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US offers EVgo conditional $1.05 billion loan for EV chargers

Economic TimesEconomic Times · 3d
US offers EVgo conditional $1.05 billion loan for EV chargers

- The United States offers EVgo a conditional loan guarantee of up to $1.05 billion for expanding EV-charging infrastructure. - The loan will support the deployment of around 7,500 public stalls with high-power chargers at nearly 1,100 stations. - The loan aims to help EVgo compete with Tesla's charger network and improve customer service. - EVgo currently has more than 3,500 fast charging stalls and plans to build the additional chargers over five years. - Over 40% of the new chargers will be built in disadvantaged communities to provide access to clean transportation for those without private driveways. - The partnership between the US and EVgo aims to accelerate the expansion of EV-charging infrastructure nationwide.

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