EVgo: Low Utilization Problems

Sep. 18, 2023 3:31 PM ETEVgo, Inc. (EVGO) StockEVGO20 Comments

Summary

  • EVgo, Inc. continues to struggle towards profitability despite growing EV demand.
  • Current charging stations have low utilization rates, with 70% of DCFC stations being utilized less than 15% of the time.
  • EVgo reported record revenues in Q2, but the majority of the growth came from pass-through equipment costs, and the company still reported a significant adjusted EBITDA loss.
  • The stock is far too expensive with a $1.2 billion market cap.
  • Out Fox The Street members get exclusive access to our real-world portfolio. See all our investments here »

EVgo Fast Charging station

sanfel

Even as electric vehicle ("EV") demand grows, EVgo, Inc. (NASDAQ:EVGO) has hardly made any progress towards being profitable. The EV charging station business remains bleeding edge, leaving shareholders subsidizing losses for EV users. My investment

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