EVgo, eXtend Partners Bag $12.7M Fund For Fast Charging Infrastructure Expansion
Portfolio Pulse from Shivani Kumaresan
EVgo Inc (NASDAQ:EVGO) and its eXtend partners have been selected for more than $12.7 million in preliminary awards from various funding sources across California, Colorado, and Pennsylvania. The funding will support the buildout of over 150 fast-charging stalls. To date, EVgo and its eXtend partners have been selected for approximately 20% of awarded NEVI funds. EVgo shares are trading lower by 1.91% at $2.99.
October 12, 2023 | 2:17 pm
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POSITIVE IMPACT
EVgo has secured over $12.7 million in funding for fast-charging infrastructure expansion. However, its shares are trading lower.
The funding will support the expansion of EVgo's fast-charging infrastructure, which is a positive development for the company. However, despite this positive news, the company's shares are trading lower, which could be due to other market factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100