EVgo (EVGO) JP Morgan Energy, Power and Renewables Conference summary

Industry and competitive landscape

• DC fast charging market is growing rapidly, with expectations to reach over 250,000-300,000 chargers in the US by 2030.

• Tesla's withdrawal from aggressive expansion has shifted competitive dynamics, improving demand-supply balance and attracting more capital to the sector.

• Owner-operator models with recurring revenue are favored over hardware sales models.

• Market share is expected to rise due to faster growth rates and strategic site selection.

Growth strategy and market opportunity

• Over 100,000 potential stalls identified with 10,000 currently meeting double-digit return criteria.

• Annual stall additions of 800-900 are planned, supporting both market share retention and growth.

• Focus remains on high-utilization urban locations, with less emphasis on highway sites.

• Non-dilutive financing and DOE loan programs are being pursued to accelerate expansion.

Utilization, throughput, and customer trends

• Utilization has tripled in two years, with over 50% of stalls above 15% utilization and 20% above 30%.

• Throughput per stall has quadrupled, driven by higher charge rates and increased rideshare usage.

• Rideshare drivers now account for 25% of network usage, up from 11% two years ago.

• More affordable EVs are expected to boost both frequent and infrequent customer segments.