LOS ANGELES - EVgo Inc. (NASDAQ: NASDAQ:EVGO), a key player in the United States' public electric vehicle (EV) fast charging network, has reported surpassing one million registered customer accounts. The company announced this achievement today, highlighting a significant 400% increase in customer accounts since April 2020.
The surge in EVgo's customer base is indicative of the broader trend in EV adoption and the corresponding demand for accessible public charging infrastructure. In the first quarter of 2024, the utilization rate of the EVgo network was about 19% nationwide, and the network's gigawatt hour throughput nearly tripled compared to the same period in the previous year. This growth comes less than two years after EVgo celebrated its 500,000th account in October 2022.
EVgo's expansion efforts have also included enhancing the user experience. The company's Autocharge+ feature, which enables seamless plug and charge payment, is now compatible with over 50 EV models.
Usage of Autocharge+ has seen a considerable increase, with more than four times as many charging sessions initiated in the first quarter of 2024 as in the first quarter of 2023. Moreover, nearly 40% of EVgo's charging stalls are now equipped with 350 kW chargers, up from 22% at the end of March 2023.
Badar Khan, CEO of EVgo, emphasized the company's commitment to building a customer-focused charging network. "As more drivers make the switch to electric, we're seeing demand on the EVgo network skyrocket," Khan said. With plans to expand their charging network footprint across the U.S., EVgo has identified 100,000 potential stalls with site host partners.
EVgo operates a network of over 1,000 fast charging locations across more than 35 states and is actively working to support the mass adoption of electric vehicles for various customer segments, including individual drivers and commercial fleets. The company continues to form partnerships and develop innovative services to enhance the charging experience for EV drivers.
This announcement is based on a press release statement from EVgo.
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