EVgo Inc. has secured a $1.25-billion guaranteed loan facility from the U.S. Department of Energy's Loan Programs Office as part of the Title 17 Clean Energy Financing Program. The funding will support EVgo's expansion of public charging infrastructure for electric vehicles across the United States.

The company plans to construct 7,500 new fast charging stalls nationwide, which will more than triple its network size to at least 10,000 stalls by 2029. This significant expansion aims to provide convenient and reliable charging solutions for the growing number of electric vehicle owners.

This strategic investment aligns with the nation's goals to accelerate EV adoption and strengthen charging infrastructure accessibility. The expanded network will help address range anxiety concerns and support the transition to sustainable transportation.

The DOE loan guarantee demonstrates the federal government's commitment to supporting clean energy initiatives and private sector investments in EV charging infrastructure development.

Related Articles

Previous Articles