EVgo’s Prefabricated Charging Infrastructure Deployment Model Expected to Cut Installation Timelines by 50% on Average
EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced it is using an innovative prefabrication approach to new station installation that is anticipated to cut average station installation time in half and save an average of 15% in station construction costs at eligible sites. With a scalable design that starts at six fast charging stalls—supporting EVgo’s focus on expanding stall counts to bolster resiliency—the prefabrication model further standardizes EVgo’s construction process and station layout by utilizing a modular skid.
“There are roughly 30,000 fast chargers in the U.S. today, and by 2030, industry analysts estimate we’ll need more than 300,000. Innovations like this prefabrication model are critical to scale EVgo’s network and build the infrastructure needed to meet the growing demand for public charging”Post this
In addition to savings on installation timelines and costs, this new approach being tested in key markets around the U.S. includes many features to elevate the EV driver customer experience, including Wi-Fi infrastructure that can be added seamlessly to boost cellular connectivity as needed. Prefabricated skids are also future proofed to accommodate lighting and security cameras and can integrate with canopies to offer shade on sunny days and shield drivers from inclement weather. The skid frame will also be covered with synthetic turf once installed on site, providing a layer of cushioning to help safeguard connectors that may be dropped, another key feature to further enhance resiliency. Site hosts and their customers will also benefit from a quicker construction process with less disruption.
Through prefabrication, all charging equipment—including dispensers, power cabinets and any additional necessary equipment—is assembled in a single base frame before being shipped to the fast charging site. By using this process wherever possible, EVgo expects to accelerate timelines while ensuring consistent, high-quality assembly in a controlled environment. This approach also allows EVgo to perform pre-commissioning at the fabrication facility, which is anticipated to further accelerate deployment timelines.
“There are roughly 30,000 fast chargers in the U.S. today, and by 2030, industry analysts estimate we’ll need more than 300,000. Innovations like this prefabrication model are critical to scale EVgo’s network and build the infrastructure needed to meet the growing demand for public charging,” said Dennis Kish, EVgo COO. “Prefabricated stations can not only help us save time and cut costs, but also elevate the customer experience by providing popular features drivers want.”
EVgo’s prefabrication projects are underway at multiple locations in Florida, Nebraska, North Carolina, and Texas. The first site to be deployed using this new method is located in Texas and is anticipated to begin construction this November, with a goal of opening to the public by February 2024. EVgo expects to expand prefabrication to additional locations throughout 2024.
For more information about the EVgo fast charging network, visit www.evgo.com.
About EVgo
EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since 2019, EVgo has purchased renewable energy certificates to match the electricity that powers its network. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network includes more than 900 fast charging locations, 60 metropolitan areas and 30 states, including stations built through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a world-class charging experience where drivers live, work, travel and play.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “proposed,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, express or implied statements regarding the anticipated cost and time savings and improvements in the customer experience resulting from EVgo’s adoption of a prefabricated infrastructure deployment model for construction and installation of charging sites; EVgo’s ability to deploy a range of features on prefabricated charging infrastructure; and anticipated timeframes for the opening of prefabrication projects. These statements are subject to numerous assumptions, risks and uncertainties and on the current expectations of EVgo’s management, and are not predictions of actual performance. See “Risk Factors” in EVgo’s Annual Report on Form 10-K filed with the SEC on March 30, 2023, as well as its other filings with the SEC, copies of which are available on EVgo’s website at investors.evgo.com, and on the SEC’s website at www.sec.gov. All forward-looking statements in this press release are based on information available to EVgo as of the date hereof, and EVgo does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.
