如果最终敲定，EVgo预计将在2030年前完成新摊位的部署。该公司估计，该项目的扩建将创造1000多个工作岗位，其中700多个将是公司聘用的合同资源。US electric vehicle charging network operator EVgo has secured a conditional loan guarantee of up to $1.05 billion from the US Department of Energy to accelerate the expansion of its electric vehicle charging network in communities across the USA.
According to the Securities Times app, US electric vehicle charging network operator EVgo (EVGO.US) has obtained a conditional loan guarantee of up to $1.05 billion from the US Department of Energy to drive the expansion of its electric vehicle charging network in communities across the USA. Boosted by this news, the stock surged more than 35% at the opening.
Obtaining this low-cost debt financing from the US Department of Energy's Loan Programs Office will help add approximately 7,500 fast charging stations across different parts of the USA. The largest state markets are expected to be Arizona, California, Florida, Georgia, Illinois, Michigan, New Jersey, New York, Pennsylvania, and Texas.
If finalized, EVgo expects to complete the deployment of new stations by 2030. The company estimates that the expansion project will create over 1,000 jobs, with more than 700 being contracted resources directly hired by the company.
At the same time, jpmorgan expressed in research reports that they have upgraded EVgo's rating from "Neutral" to "Shareholding" and included the stock on the Active Catalyst Watchlist, with a target price of $7.
Analyst Bill Peterson stated that EVgo has highly attractive and continuously growing partnerships in areas such as automotive OEMs, ride-sharing, and autonomous vehicle fleets. Peterson and his team anticipate strong revenue growth for EVgo over the next few years, even in the face of a slowdown in electric vehicle adoption, based on higher utilization rates, higher tariffs, and continued network expansion accelerated by the loans from the US Department of Energy.
"We anticipate that stable network throughput growth, steady or slightly improved gross margin, and better operational leverage will enable the company to achieve breakeven adjusted EBITDA by 2025," Peterson stated.
