EV Charging network EVgo was established in 2010 and acquired by power and energy infrastructure firm LS Power in 2019, It has a network of 800 fast chargers across 34 US states and caters to over 220,000 customers.
The company has partnerships with carmakers including General Motors Co, Nissan Motor Co, BMW AG and ride-hailing firms like Uber Technologies Inc.
This move will help EVgo raise additional capital to extend its footprint across US and prepare for the upcoming EV boom.