EVgo has rapidly deployed over 40% of its charging stations in 2025, utilizing prefabricated modular skids with Miller Electric.
Quiver AI Summary
EVgo Inc. has successfully deployed over 40% of its fast charging stations in 2025 using prefabricated modular skids manufactured domestically, surpassing its year-end goal early in the fourth quarter. Partnering with Miller Electric Company has accelerated the installation process and reduced costs by an average of 15%. This prefabrication approach allows for consistent, high-quality charging infrastructure and enhances customer experience with features like Wi-Fi and lighting. Miller Electric has also contributed to local job creation, employing over 1,400 people in Jacksonville. EVgo's prefabricated stations, equipped with high-power 350kW fast chargers, are operational in several states, with more under development. The collaboration exemplifies innovation and efficiency in the EV charging industry, supporting both infrastructure deployment and workforce development.
Potential Positives
- EVgo has successfully deployed over 40% of its charging stations for the year ahead of schedule, indicating strong operational performance and efficiency.
- The partnership with Miller Electric has resulted in a 15% decrease in installation costs and faster installation timelines, enhancing overall project efficiency.
- The use of domestically manufactured prefabricated modular skids supports local job creation and workforce development, reflecting the company's commitment to sustainability and economic growth.
- EVgo's prefabricated stations, which can charge up to 14 vehicles simultaneously, are expanding the accessibility of high-power charging across various states, catering to increasing EV demands.
Potential Negatives
- The press release contains forward-looking statements that highlight risks and uncertainties associated with EVgo's infrastructure deployment and potential performance, which may indicate volatility in future business operations.
- EVgo's reliance on partnerships, such as the one with Miller Electric, raises concerns about operational dependency and vulnerability to issues that may arise within these collaborations.
- There is no mention of a specific timeline for the expansion of stations, which could imply uncertainty in future growth and the ability to meet increasing demand for EV charging infrastructure.
FAQ
What is EVgo's recent achievement in fast charging stations?
EVgo has deployed over 40% of its fast charging stations this year using domestically manufactured modular skids.
How has the partnership with Miller Electric benefited EVgo?
The partnership has accelerated station installations and reduced installation costs by an average of 15%.
What features do EVgo's prefabricated stations include?
They can include Wi-Fi, lighting, security cameras, and canopies to enhance the customer experience.
In which states are EVgo's prefabricated stations currently operational?
They are operational in California, Florida, Georgia, Illinois, Nebraska, New York, and Texas.
How many vehicles can EVgo's new stations charge simultaneously?
The 2025 prefabricated stations can charge up to 14 vehicles at once, featuring high-power 350kW fast chargers.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EVGO Revenue
$EVGO had revenues of $92.3M in Q3 2025. This is an increase of 36.67% from the same period in the prior year.
You can track EVGO financials on Quiver Quantitative's EVGO stock page.
$EVGO Hedge Fund Activity
We have seen 94 institutional investors add shares of $EVGO stock to their portfolio, and 114 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- M&G PLC removed 3,301,866 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $12,051,810
- MILLENNIUM MANAGEMENT LLC added 1,734,958 shares (+45.3%) to their portfolio in Q3 2025, for an estimated $8,206,351
- TUDOR INVESTMENT CORP ET AL added 1,726,307 shares (+inf%) to their portfolio in Q3 2025, for an estimated $8,165,432
- TWO SIGMA ADVISERS, LP removed 1,489,100 shares (-71.7%) from their portfolio in Q3 2025, for an estimated $7,043,443
- NUVEEN, LLC removed 1,134,245 shares (-79.9%) from their portfolio in Q3 2025, for an estimated $5,364,978
- D. E. SHAW & CO., INC. removed 1,117,091 shares (-76.3%) from their portfolio in Q3 2025, for an estimated $5,283,840
- VOLORIDGE INVESTMENT MANAGEMENT, LLC removed 1,013,733 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $3,700,125
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$EVGO Analyst Ratings
Wall Street analysts have issued reports on $EVGO in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Stifel issued a "Buy" rating on 11/25/2025
- UBS issued a "Buy" rating on 11/11/2025
To track analyst ratings and price targets for $EVGO, check out Quiver Quantitative's $EVGO forecast page.
$EVGO Price Targets
Multiple analysts have issued price targets for $EVGO recently. We have seen 3 analysts offer price targets for $EVGO in the last 6 months, with a median target of $5.9.
Here are some recent targets:
- Stephen Gengaro from Stifel set a target price of $7.5 on 11/25/2025
- Jon Windham from UBS set a target price of $5.9 on 11/11/2025
- Andrew Percoco from Morgan Stanley set a target price of $4.5 on 08/06/2025
Full Release
LOS ANGELES, Dec. 16, 2025 (GLOBE NEWSWIRE) -- EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation’s largest providers of public fast charging infrastructure for electric vehicles (EVs), has deployed more than 40% of its stations this year by leveraging domestically manufactured prefabricated modular skids. EVgo exceeded its goal before year-end, driven by a high rate of new station commissionings early in the fourth quarter. The Company’s partnership with Miller Electric Company (“Miller Electric”), a leading electrical contractor based in Jacksonville, Florida, with expertise in complex electrical systems, has led to accelerated station installation timelines and a decrease in station installation costs by an average of 15%.
Prefabrication ensures consistent, high-quality assembly in a controlled environment by assembling all charging equipment onto a single base frame made from American steel and aluminum at Miller Electric’s facility before shipment to the installation site. Since the partnership first launched in 2023 , EVgo’s expanded work with Miller Electric has supported local job creation. Miller Electric has scaled capacity at its prefabrication facility and employs more than 1,400 people in the Jacksonville area.
“The prefabrication model is a win-win for EVgo because we can fast-track infrastructure deployment to meet charging demand and support workforce development in this growing industry,” said Dennis Kish, President of EVgo. “Utilizing prefabricated modular skids from Miller Electric is key to scaling EVgo’s nationwide network.”
“By prefabricating EV skids, we’re able to deliver consistent, high-quality installations while reducing timelines and costs. This approach accelerates infrastructure deployment and supports domestic manufacturing and job creation—key pillars for a sustainable future. This collaboration with EVgo demonstrates innovation and efficiency in the EV charging industry,” said Pat Eliason, Group President at Miller Electric.
In addition to cost and time efficiencies, prefabrication can seamlessly integrate features that enhance customer experience such as Wi-Fi infrastructure, lighting, security cameras, and canopies.
EVgo’s prefabricated stations are now open to EV drivers in California, Florida, Georgia, Illinois, Nebraska, New York and Texas, with additional stations under development in North Carolina, Utah, and more. Prefabricated stations deployed in 2025 can charge up to 14 vehicles simultaneously, depending on the site, and exclusively feature high-power 350kW fast chargers.
For more information about the EVgo fast charging network, visit www.evgo.com .
About EVgo
EVgo (Nasdaq: EVGO) is one of the nation’s leading public fast charging providers. With more than 1,100 fast charging stations across 47 states, EVgo strategically deploys localized and accessible charging infrastructure by partnering with leading businesses across the U.S., including retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators, and autonomous vehicle companies. At its dedicated Innovation Lab, EVgo performs extensive interoperability testing and has ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience.
About Miller Electric Company
Miller Electric is a 97-year-old company based in Jacksonville, Florida with 21 branch offices located throughout the United States. We provide energy and technology infrastructure solutions for our clients and work in various markets including data centers, healthcare, manufacturing, commercial, federal and industrial. We are also dedicated to creating a more sustainable future through the advancement of EV charging infrastructure. Miller Electric is an EMCOR Group Company (NYSE: EME).
Forward Looking Statements
This press release contains forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, certain statements related to EVgo’s product capabilities, features, availability, performance and expected benefits; EVgo’s partnership with Miller Electric and the cost savings and performance and scaling benefits thereof; and the speed of EVgo’s infrastructure deployment, and its expected impact on charging demand. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under the heading “Risk Factors” and elsewhere in our most recent Quarterly Reports of Form 10-Q and our Annual Reports on Form 10-K, filed with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. As a result, you should not rely on any forward-looking statements as predictors of future results. Any forward-looking statements in this release are based on the limited information currently available to EVgo as of the date hereof, which is subject to change, and EVgo will not necessarily update these forward-looking statements, even if new information becomes available in the future.
EVgo Contacts
For Investors:
[email protected]
For Media:
[email protected]
Miller Electric Contact
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a7a3dcb1-e7da-418f-a65c-5b4992a97c05