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Benzinga

Business

Shivani Kumaresan

EVgo Bags California Energy Commission Grants For Rideshare Electrification

EVGO California Energy Commission CEC Uber EVgo Inc Nasdaq NYSE Uber Technologies Inc Bay Area Los Angeles

EVgo Inc (NASDAQ:EVGO) has been selected for proposed awards for two California Energy Commission (CEC) Charging Access for Reliable On-Demand Transportation Services (CARTS) grants. The proposed grant amounts to over $3.6 million.
The proposed awarding of two CARTS grants builds upon EVgo's previously announced partnership with Uber Technologies Inc (NYSE:UBER).
EVgo will build twin public fast-charging hub sites featuring 72 charging stalls within Los Angeles and the Bay Area.
All four of the new charging sites will feature fast charging up to 350 kW as part of this program.
The CEC released a grant solicitation and application package entitled CARTS in August 2021, under the Clean Transportation Program.
Price Action: EVGO shares are trading lower by 0.79% at $11.32 on the last check Wednesday.

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