LOS ANGELES - EVgo Inc. (NASDAQ: NASDAQ:EVGO), a prominent public fast charging network for electric vehicles (EVs), has announced the inauguration of its first fast charging station built using a new prefabrication method. The station is situated at the Bay Colony Town Center in League City, Texas, and serves as the pioneer for a series of stations expected to open throughout the year, employing the same construction technique.
The company's innovative prefabrication model is projected to reduce the construction costs by approximately 15% at eligible sites and trim down installation timelines by up to 50%. This development comes as EVgo's network throughput saw a fivefold increase compared to the rise in EVs in operation in the fourth quarter of 2023.
Dennis Kish, President of EVgo, emphasized the significance of the prefabrication approach in meeting the growing demand for public fast charging infrastructure and in scaling the company's growth.
The prefabricated stations will feature 350kW high-power fast chargers capable of charging multiple vehicles simultaneously and are expected to enhance the customer experience with amenities like Wi-Fi, lighting, security cameras, and integrated canopies.
EVgo's expansion plans include opening additional prefabricated stations in Florida, Nebraska, North Carolina, and California throughout 2024. The implementation of the prefabrication model has been supported by collaborations with partners such as WB Engineers+Consultants and Miller Electric.
EVgo, listed on NASDAQ: EVGO, operates one of the largest public fast charging networks in the United States, with over 950 fast charging locations in more than 35 states. The company continues to accelerate the transition to electric vehicles with a variety of services for individual drivers, rideshare and commercial fleets, and businesses.
This initiative is based on a press release statement and reflects the company's continued efforts to innovate and expand its infrastructure to support the increasing adoption of electric vehicles.
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