EVgo Inc. EVGO, a leading provider of public fast-charging infrastructure in the United States, and Toyota Motor Corporation TM, have inaugurated their first DC fast-charging (DCFC) stations in Baldwin Park and Sacramento, CA. Developed under Toyota’s “Empact” vision, these co-branded stations, owned and operated by EVgo, feature 350kW chargers and can simultaneously serve up to eight vehicles.
With a network of more than 1,100 stations across 40+ states, EVgo partnered with Toyota to enhance charging accessibility, a critical factor for EV adoption. Per Scott Levitan, EVgo’s executive vice president of Growth, expanding fast-charging options is essential as automakers introduce more EVs. Toyota’s “Empact” initiative, launched in April 2023, seeks to support underserved communities in transitioning to electrified transportation by focusing on charging accessibility, affordable mobility and emissions reduction. The newly launched stations aim to provide convenient charging for local residents.
Per James George, Toyota North America’s general manager of EV Charging Solutions, Toyota and EVgo are working to expand charging infrastructure for all battery-electric vehicles, including Toyota and Lexus models. The companies aim to make these stations both accessible and efficient.
Strategically positioned near shopping centers, restaurants and other amenities, the new stations offer added convenience. Additionally, EVgo has extended its charging program with Toyota, providing one year of complimentary charging for 2025 Toyota bZ4X buyers and lessees, who can access EVgo stations through the Toyota App.
In December 2024, the California Energy Commission approved a $1.4 billion plan to expand EV charging and hydrogen refueling infrastructure, advancing the state's zero-emission vehicle goals. Last month, another EV infrastructure provider, Blink Charging Co. BLNK, secured an agreement to install up to 50 EV charging ports across Alameda, CA. In the initial phase, 13 Level 2 and DCFC ports will be deployed at four locations within the city. The second phase, subject to funding availability and mutual priorities, will introduce an additional 34 ports at public charging sites. Alongside installation, Blink will offer services, including site assessment, preparation, maintenance, repairs, parts supply, warranties and product training.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpToyota Motor Corporation (TM) : Free Stock Analysis Report
Blink Charging Co. (BLNK) : Free Stock Analysis Report
EVgo Inc. (EVGO) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
