EVgo Applauds LADWP Commercial Electric Vehicle Charging Rates and Streamlined Development Processes and Accelerates Construction of New Fast Charging Stations Within LADWP Territory
EVgo working with Los Angeles Department of Water and Power to expand existing network of 140+ stations in LA region and expedite infrastructure development
LOS ANGELES – October 29, 2021 – EVgo Inc. (NASDAQ: EVGO), a first mover in fleet electrification and owner and operator of the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, will accelerate construction of new EV charging sites — in addition to the 18 sites already live within LADWP’s territory — further solidifying its place as the largest network of public fast charging stations in Los Angeles.
EVgo’s expanded site pipeline builds on recent major efforts by the Los Angeles Department of Water and Power (LADWP) to streamline and accelerate installation and commissioning of EV charging stations in order to support the transition to EVs and meet the state’s ambitious policy goals. This effort, adopted through a motion by the Department’s Commissioners at the October 12th Board Meeting and introduced by Board President Cynthia McClain-Hill, comes on the heels of the department’s introduction of a pilot commercial EV charging rate designed to incentivize charging infrastructure development just weeks prior.
“We can see the EV future in our rearview mirrors and it’s coming up fast. L.A. must be ready, and that means we must ensure that there’s a fast-charging infrastructure that’s built to meet the needs of everyday motorists and business commercial fleets,” said Cynthia McClain-Hill, LADWP Board of Commissioners President. “Some say we have less than a decade to get this job done. Our public hearing with EV industry leaders was an incredible opportunity for us to gain from a deep-dive, holistic review of the state of LADWP’s transportation electrification initiatives; to understand our successes and pain-points and to comprehend what needs to happen, and when, to dramatically decarbonize our local transportation sector through the broad use of EVs.”
According to the California Energy Commission (CEC), the state of California will need 1.2 million electric vehicle chargers for passenger cars by 2030, as well as an additional 150,000 chargers to support electric-powered buses and trucks. The new pilot commercial EV charging rate introduced by LADWP will help meet these ambitious state goals and is aimed at rapidly expanding EV charging infrastructure in locations such as public and commercial parking lots, malls, parks and more, and will be made available to businesses and multi-family housing facilities. This commercial rate, strongly supported by EVgo and other industry stakeholders, features two pricing options that will prioritize charging during daylight hours and the use of sustainable energy solutions like solar power. This new rate will bring LADWP in line with investor-owned utilities (IOUs) in California that have already introduced commercial EV rates, and establish an attractive market for further EV adoption and infrastructure development.
In addition to new EV charging rates, LADWP will streamline its construction and installation processes by identifying an individual to serve as the head of all transportation electrification (TE) and EV initiatives within the department, including the LADWP’s Charge Up! rebate program. LADWP’s Commission instructed staff to work with other city agencies to evaluate potential options for faster and more efficient development of these chargers and identify ways to streamline their installment as it relates to other city agencies. EVgo will work in tandem with DWP and other city agencies, including the Department of Transportation (DOT) and the Los Angeles Department of Building and Safety (LA DBS), to shorten permitting and development timelines, speed the installation of fast chargers within the region and improve the city’s ability to attract additional EV infrastructure investments.
The developments align with EVgo’s response to growing consumer demand and policy support behind EVs to roll out charging infrastructure faster than ever before and ensure equal access to charging for all drivers. This industry collaboration, which led to workshops and organizational coordination, highlights the importance of EVgo's Connect the WattsTM program — an initiative aimed at bringing together the electric vehicle charging infrastructure community, including utilities, to identify best practices for expediting charger deployments. Utilities across the country that are looking to attract electric vehicle development within their territories can look at LADWP as a successful example. Additionally, EVgo is piloting a location-based pricing structure in Los Angeles, whereby EVgo will provide discounts in priority communities as identified by CalEnviroScreen to further align with its corporate mission, state level equity and equal accessibility to charging.
“As an LA-based company, we’re honored to assist LADWP in facilitating this transition and to meet the growing demand for EVs and providing the necessary infrastructure to enable the future of electrified transportation,” said Cathy Zoi, CEO of EVgo. “The introduction of commercial charging rates – coupled with efforts from the DWP to streamline processes for charge deployments – supports our goals of providing convenient and affordable charging for all -- including in priority communities -- while spearheading the mass transition to more sustainable solutions for Angelenos and beyond.”
For more information around the locations of fast chargers in EVgo’s charging network, visit www.evgo.com.
EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 300,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.
Ted Brooks, VP of Investor Relations