EVgo Secures $1.25 Billion DOE Loan to Expand Fast-Charging Network

EVgo has closed a $1.25 billion guaranteed loan from the U.S. Department of Energy’s Loan Programs Office under the Title 17 Clean Energy Financing Program. The funds will support the construction of 7,500 new fast-charging stalls, tripling EVgo’s network to 10,000 stalls by 2029.

The project aims to boost public EV charging infrastructure, creating over 1,000 U.S. jobs, enhancing EV range confidence, and supporting over 30 new affordable EV models expected next year. EVgo also plans to roll out next-generation charging architecture by 2026, streamlining the charging process while advancing innovation through its EVgo Innovation Lab.