Electric vehicle charging network EVgo was acquired by a power and energy infrastructure company to support continued expansion in the burgeoning EV market.
EVgo will continue to operate as a stand-alone entity, but now under the LS Power umbrella of companies, according to LS Power. EVgo has a footprint of more than 750 sites and includes over 1,250 fast chargers and extends across 34 states.
LS Power, a U.S. power and energy infrastructure owner, signed a definitive agreement to acquire EVgo from Vision Ridge Partners. The transaction is expected to close in early 2020.
EVgo partners with retail hosts, hotels, shopping centers, gas stations parking lot operators, and other stakeholders to bolster the development of EV charging.