Loading...
Market
What will be EVgo's market share in U.S. EV charging by end of 2025?
3
Resolution / Starting Odds
Less than 10% • 25%
10% to 20% • 25%
20% to 30% • 25%
More than 30% • 25%
Market analysis reports from reputable firms like BloombergNEF or IHS Markit
Story
EVgo Secures $1.05 Billion DOE Loan for 7,500 EV Chargers, Shares Surge 47%
Oct 3, 2024, 01:25 PM
Los Angeles-based EVgo has received a conditional loan guarantee of up to $1.05 billion from the U.S. Department of Energy (DOE) to expand its electric vehicle (EV) charging infrastructure. The financing will support the construction of approximately 7,500 high-power charging stalls across 1,100 stations nationwide. This significant investment aims to accelerate the buildout of public fast charging networks, addressing the growing demand for EV charging solutions. The chargers can power two EVs simultaneously. Following the announcement, EVgo's stock surged by 47% and reached morning highs, with shares trading at levels last seen in May 2023. Additionally, JPMorgan upgraded EVgo's rating to Overweight from Neutral, with a price target of $7, citing the company's successful scaling of its fast charging owner-operator model. EVgo has a short interest of 26% of its 100 million public float.
View original story
Similar markets
10% to 20% • 25%
Less than 10% • 25%
20% to 30% • 25%
More than 30% • 25%
Less than 10% • 25%
10% to 20% • 25%
20% to 30% • 25%
More than 30% • 25%
Increase > 5% • 25%
Increase <= 5% • 25%
Decrease • 25%
No change • 25%
Market share increases • 25%
Market share decreases • 25%
Market share remains stable • 25%
Data inconclusive • 25%
Less than 2% • 25%
2% to 3% • 25%
3% to 4% • 25%
More than 4% • 25%
Increase • 25%
Decrease • 25%
No Change • 25%
Other • 25%
Increase by more than 2% • 25%
Increase by 1-2% • 25%
Remain the same • 25%
Decrease • 25%
Overweight • 25%
Neutral • 25%
Underweight • 25%
Other • 25%
Less than 500 • 25%
500 to 700 • 25%
700 to 900 • 25%
More than 900 • 25%
Less than 30% • 25%
30% to 40% • 25%
40% to 50% • 25%
More than 50% • 25%
Increase by more than 5% • 25%
Increase by 1-5% • 25%
No change • 25%
Decrease • 25%
Less than 30% • 25%
30% to 40% • 25%
40% to 50% • 25%
More than 50% • 25%