EVgo Further Extends Nation's Largest Fast Charging Network to Tesla Drivers (CLII)
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EVgo, the nation's largest public fast charging network for electric vehicles (EVs), is expanding its offering for Tesla drivers to charge at more EVgo stations across the country, upgrading hundreds of its stations with integrated Tesla connectors. This will further EVgo's reach as the only EV charging platform that is both 100% renewable electricity powered and capable of charging all three fast charging standards (CHAdeMO, SAE Combo or CCS, and Tesla) without the need of a separate adaptor. This, combined with EVgo's industry leading uptime of 98%, will further extend the benefits of EVs to more U.S. drivers and reduce greenhouse gas emissions from the transportation sector.
EVgo will deploy more than 400 integrated Tesla connectors at existing EVgo stations, with an additional 200 connectors reserved for new stations planned for 2021 in key cities including San Francisco, Los Angeles, San Diego, Seattle, Denver, Dallas, Austin, Washington D.C., Salt Lake City, and Miami. EVgo first launched the integrated Tesla connectors at its locations in San Francisco and Los Angeles in December 2019, positioning itself as the first multi-standard fast charging platform to offer Tesla connectors in the U.S., and remains the only third-party fast charging network to be incorporated in the Tesla navigation system in the U.S.
Today, Tesla represents as much as 80% of the U.S. market for EVs and its drivers, like all EV drivers, need convenient, reliable options to charge. EVgo's strategic and convenient locations in grocery stores and retail outlets across the country meet that need. And now, EVgo's increased footprint with hundreds of additional integrated Tesla connectors mean Tesla drivers can charge without the need for an adaptor.
"EVgo's expansion of integrated Tesla connectors underscores our commitment to delivering convenient and reliable fast charging to all EV drivers," said Cathy Zoi, CEO of EVgo. "EV drivers seek efficiency and convenience in how they charge their vehicles, including the ability to shop while they charge. Today's exciting announcement will make it even easier for Tesla drivers to top up while they grocery shop and run other errands, while driving greater utilization across our growing charging network."
EVgo's integrated Tesla connectors are capable of providing 100 miles of charge in 30 minutes, which is aligned with the requirements of customers who charge at retail locations. EVgo's site host partners, including The Save Mart Companies, Sheetz, and shopping malls across the country, see significant value in offering easy access to fast charging right outside their stores. And with the pool of EV drivers and vehicles expected to dramatically increase to more than 7 million by 2027, the appeal of onsite charging and the value offered by EVgo's network will continue to expand as well.
Business Combination Update
EVgo remains on track to complete its previously announced business combination with Climate Change Crisis Real Impact I Acquisition Corporation ("CRIS") (NYSE: CLII), a publicly traded special purpose acquisition company, in the second quarter of 2021. Upon closing, the combined company will be named EVgo Inc. and trade under the symbol "EVGO" on the Nasdaq. For additional information related to the business combination, please visit www.evgo.com/investors.
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