EVgo works with automakers, site hosts, businesses, rideshare operators, autonomous vehicle companies, utilities, and other stakeholders to accelerate nationwide expansion of fast charging infrastructure. EVgo currently has agreements with various automakers for their electric vehicles to use its network of chargers or provide discounted charging rates or complimentary charging, including GM, Honda, and Toyota. EVgo says its chargers can deliver a full charge in as little as 15 minutes and highlights a network of >4,600 stalls in operation and a goal of >15,000 stalls energized by end of 2029.
Cyborg Score Rationale
EVgo reported revenue ahead of Wall Street's expectations in Q3 2025, with sales up 36.7% year-on-year, and full-year revenue guidance of $377.5 million at the midpoint came in 2.9% above analyst estimates. However, the company remains unprofitable with negative EBITDA and operates in a capital-intensive, competitive EV charging market with improving utilization rates.
Top Insights
In December 2024, EVgo secured $1.25bn in funding from Department of Energy (United States).
EVgo's Autocharge+ service surpassed 5 million sessions and achieved sixfold enrollment growth since 2023, with over 300,000 customers enrolled as of Dec 3, 2025; nearly 30% of EVgo sessions are initiated via Autocharge+.
EVgo charger utilization reached 24 percent in the first quarter, compared with just 9 percent two years earlier.
EVgo deployed more than 40% of its 2025 stations using domestically manufactured prefabricated modular skids, achieving a 15% average reduction in installation costs and faster timelines.
Named Competitors
ChargePoint Network — Public EV charging network competitor
Blink Charging Network — Public and commercial EV charging provider
Wallbox Charging — Charging software and hardware solutions
Recent Developments
(January 2026) Autocharge+ achieved sixfold enrollment growth with over 300,000 customers enrolled
(December 2025) EVgo announced full-year 2025 revenue guidance increased to $377.5 million with EBITDA guidance of $4 million
(March 2025) EVgo opened first fast charging stations deployed through Toyota's Empact Vision in Baldwin Park and Sacramento, California
(December 2024) Secured $1.25 billion in funding from U.S. Department of Energy
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