Electric Vehicles Stock Jump; EVGO Up 17%

In a positive day for electric vehicles stocks, EVgo (EVGO) jumped over 17%. EVGO leads the PRISM EV Index in performance, helping push the index up 4.2%.

EVGO is not the only EV stock that had a great day. Lucid grew 13%, Rivian 12%, NIO 9.3% and Tesla 7.7%.

The rise in values among these companies appear to be due to a market rally as opposed to one specific event or piece of news.

EVgo’s most recent press release was four days ago, announcing the awardees of their first annual national EV charging program.

“As EV adoption increases, so does the demand for convenient public charging. EVgo believes it’s important to spotlight just how much collaboration, partnership and coordination goes into successfully deploying fast charging infrastructure,” said Cathy Zoi, CEO at EVgo. “Celebrating our ‘EV Charging Heroes’ helps recognize those that are leading the way and creating a template for other stakeholders in the EV charging ecosystem. These ‘EV Charging Heroes’ have more than a commitment to enabling EV adoption, they are walking the walk on getting EV charging infrastructure into the ground. We congratulate this year’s awardees and look forward to working together to accelerate fast charger deployment across the country.”

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since its founding in 2010, EVgo has led the way to a cleaner transportation future and its network has been powered by 100% renewable energy since 2019 through renewable energy certificates. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network features over 850 fast charging locations – currently serving over 60 metropolitan areas across more than 30 states – and continues to add more DC fast charging locations through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables world-class charging experience where drivers live, work, travel and play.