EVgo Reaches 20% Average Utilization; Expects to Reach Profitability in 2025
EVgo released its Q2 2024 earnings on August 1 with several key highlights, including reaching a 20 percent average utilization in the quarter and expectations to reach EBITDA profitability in 2025. Among the metrics and highlights that stood out and were of most interest to us from the 35-page Q2 2024 investor presentation, included: EVgo […]
60% of NEVI Site Awards Analyzed Have A Match Percentage Greater Than 20%
Out of 210 winning NEVI applications analyzed 60% of applicants have submitted a bid with a match percentage higher than the 20% required minimum. And 13 percent have an applicant match of 50% or higher.
IRS Guidance Expands Tax Credit for EV Charging Stations, May Open Opportunities for Fleets and CPOs
The Internal Revenue Service (IRS) recently released updated guidance on a tax credit for the installation of electric vehicle (EV) charging stations. The guidance has implications for both consumers and commercial businesses, in this article we will focus just on the implications for commercial businesses and charge-point operators CPOs).
5 States Have Now Awarded NEVI Funding Grants
Nearly 11 months after all 50 states plus Puerto Rico and the District of Columbia received approval of their National Electric Vehicle Infrastructure (NEVI) plans from the Federal Highway Administration (FHWA), five states have announced final or conditional awards to applicants for a total of 120 sites, and an estimated 574 charging ports. The five […]
Ohio DOT Announces NEVI Site Award Winners — EVgo is the Big Winner
On July 13, Ohio DOT (DriveOhio) announced the winning bidders for its 27 National Electric Vehicle Infrastructure (NEVI) alternative fuel corridor (AFC) site grants. Ohio was the first state to issue a NEVI RFP, then delayed its RFP process and forced applicants to resubmit applications after the final NEVI rules were released. The state did […]
How Many Public EV Chargers Will Be Needed in 2030?
At roughly 17 EVs to every Level 2 and DC fast charger deployed in the US at the end of 2022, the US would need roughly 2.8 million public chargers at the end of 2030.
Circle K Installs First US-Made ABB E-mobility 180 kW Public DC Fast Chargers
Circle K, a global convenience store and fuel retailer, opened its latest EV charging site in Wytheville, Virginia, its first equipped with ABB E-mobility’s U.S. manufactured Terra 184 DC fast chargers.
FreeWire Introduces Incentive Evaluation Service to Help Site Hosts Capitalize on Available Funding Opportunities for EV Charging
FreeWire Technologies, a provider of battery-integrated electric vehicle (EV) charging hardware and energy management solutions, announced the launch of CLAIM (Charging Location Analysis and Incentive Management), a service for its customers that analyzes potential EV charging sites for available financial incentives.
Wyoming DOT: NEVI Sites Estimated to Lose $285,000 to $372,000 During 5-year NEVI Award Period
Analysis by a consulting firm retained by Wyoming Department of Transportation (WYDOT) suggests that companies successfully winning National Electric Vehicle Infrastructure (NEVI) grants for 7 remote Alternative Fuel Corridor (AFC) sites in the state would lose from $285,000 to $372,000 per site over the 5-year NEVI award period.
Zero NEVI-Funded DC Fast Charging Sites May Be Operational in 2023
On September 14, 2022 all 52 plans from the 50 states, District of Columbia, and Puerto Rico were approved by the FHWA. Six and one-half months later, where do we stand?