Mission Statement, Vision, & Core Values of EVgo, Inc. (EVGO)

Are you curious about what drives the leading force in electric vehicle fast charging? Have you ever wondered what principles guide their operations and strategic decisions? In 2024, the company generated a record revenue of $256.8 million, a 60% increase over 2023, and expanded its network to approximately 4,080 operational stalls. Let's dive into the core of what makes this company tick by exploring the mission statement, vision, and core values that power their every move.

EVgo, Inc. (EVGO) An Overview of

Founded in 2010 and headquartered in Los Angeles, California, EVgo, Inc. (EVGO), stands as one of the nation's leading providers of charging solutions for electric vehicles (EVs). Specializing in owning and operating the public direct current fast charging (DCFC) network, EVgo caters to the rapidly growing demand for convenient and reliable EV charging infrastructure. Beyond merely offering charging services, EVgo distinguishes itself through various initiatives such as EVgo Autocharge and EVgo Rewards, enhancing the overall customer experience. As of April 2025, EVgo operates a substantial network, providing crucial support for the expanding EV market.

In the fiscal year 2024, EVgo demonstrated significant financial strides. The company reported record-breaking revenue, propelled by substantial growth in its main product sales and expansion into key markets. Specifically, EVgo reported total revenue of $161 million for 2024, a 138% increase year-over-year. This impressive growth was largely driven by a 150% increase in charging revenues, which reached $133 million. EVgo also saw a significant increase in its network throughput, with 176 Gigawatt-hours delivered in 2024, up from 72 Gigawatt-hours in the previous year. These figures underscore EVgo's strong market position and its ability to capitalize on the increasing adoption of electric vehicles.

EVgo has positioned itself as a leader in the EV charging industry through strategic initiatives and a commitment to innovation. The company's focus on providing a reliable and convenient charging experience has fostered strong customer loyalty. Here are key elements of their success:

• Extensive Network: Operating a large network of DCFC chargers across the United States.
• Customer-Centric Services: Offering programs like EVgo Autocharge and EVgo Rewards to improve user experience.
• Technological Innovation: Continuously updating and enhancing its charging technology to meet the evolving needs of EV drivers.

To gain a deeper understanding of EVgo's financial performance and strategic positioning, explore Breaking Down EVgo, Inc. (EVGO) Financial Health: Key Insights for Investors. This resource provides valuable insights into the company's financial health and its prospects in the dynamic EV market.

EVgo, Inc. (EVGO) Mission Statement

EVgo's mission is to expedite the mass adoption of electric vehicles (EVs) by creating a convenient, reliable, and affordable EV charging network that delivers fast charging to everyone. EVgo is committed to protecting the environment by making it easy for drivers to go electric. The company also fosters an inclusive culture for all, with a vision of 'Electric for All'.

Core Components of EVgo's Mission Statement

EVgo focuses on three components in the electric vehicle charger marketplace: fast charging, charging services, and enablement of new business models.

• Convenience: EVgo aims to provide easy access to charging stations. More than 145 million people in the U.S. live within 10 miles of an EVgo fast charger. With over 1,100 fast charging stations across more than 40 states.
• Reliability: EVgo aims to ensure its charging network is dependable for EV drivers.
• Affordability: EVgo offers multiple plan options, including subscription plans. EVgo bases its rates on regional utility costs to offer the lowest possible rates in each area.

Vision

EVgo's vision is to enable effortless fast charging for everyone. The company strives to make its products and services available to drivers in every community. By ensuring that its products and services reflect the needs of the communities it serves and by implementing policies and practices that positively impact its stakeholders, EVgo continues to work toward making public infrastructure available for everyone.

Core Values

Dignity, respect, and maintaining the highest standards of ethical conduct are the cornerstones on which EVgo's business and reputation have been built. The company succeeds when the range of talent and backgrounds on its team grows and is supported by innovative leadership that builds a workplace where everyone is valued and empowered. EVgo leads with authenticity and celebrates success through its culture of recognition.

EVgo is committed to bringing critical public charging infrastructure to more communities across the U.S. The company's network spans more than 40 states, and it's building more stations every day. EVgo has led and participated in several programs to promote access to EV charging for all communities.

EVgo supports American drivers by increasing access to fast charging. The company knows its connection to its team is its most important asset. The broad set of perspectives, experiences, and backgrounds among its workforce ensures that its workforce is representative of the drivers it serves and maintains its customer-centric focus, collaborative workplace, and innovative leadership.

EVgo is committed not only to delivering seamless charging experiences for its customers but also to helping its employees grow in their careers. Mentoring and promoting its team members strengthens its commitment to retaining and rewarding people across its workforce. Its portfolio of vendors includes small businesses and supports a robust American supply chain. Its growth as a business is rooted in its growth as a community.

EVgo is committed to protecting the environment by using 100% renewable energy and making it easy for drivers to go electric. EVgo has been powered by 100% renewable energy since 2019 through the purchase of Renewable Energy Credits (REC) from an accredited REC supplier.

For additional insights into EVgo's financial performance, consider reading Breaking Down EVgo, Inc. (EVGO) Financial Health: Key Insights for Investors.

EVgo, Inc. (EVGO) Vision Statement

EVgo, Inc. operates with a clear mission, vision, and core values that guide its actions and strategic decisions. These elements collectively define the company's purpose, future aspirations, and the principles that govern its operations. Understanding these foundational statements is crucial for anyone looking to grasp the direction and ethos of the company.

Mission Statement: To expedite mass EV adoption.

Vision: A cleaner future powered by electric vehicles.

Core Values:

• Act with integrity
• Be customer obsessed
• Move fast and deliver
• Build an inclusive and diverse workplace
• Be an owner

Expediting Mass EV Adoption

EVgo's primary mission is centered around accelerating the widespread adoption of electric vehicles. This involves several key strategies and initiatives. As of the fiscal year 2024, EVgo has made significant strides in expanding its charging infrastructure, which is critical for overcoming one of the main barriers to EV adoption: range anxiety. The company focuses on strategic placement of chargers in urban areas and along major transit corridors to provide convenient and reliable charging options for EV drivers.

Furthermore, EVgo collaborates with various stakeholders, including automakers, government entities, and commercial partners, to promote EV awareness and accessibility. These partnerships often involve joint marketing campaigns, educational programs, and policy advocacy aimed at creating a supportive ecosystem for EV adoption. The company also continuously invests in technology to improve the charging experience, such as developing faster charging solutions and user-friendly mobile apps.

In 2024, EVgo reported substantial growth in its network capacity, increasing the number of fast chargers available to the public by 25% compared to the previous year. This expansion is crucial to supporting the growing number of EVs on the road and ensuring that drivers have access to reliable charging when and where they need it. The company's focus on mass adoption is also reflected in its pricing strategies, which aim to make EV charging affordable and competitive with traditional gasoline-powered vehicles.

A Cleaner Future Powered by Electric Vehicles

The vision of EVgo is to create a cleaner future where electric vehicles are the norm. This involves not only reducing greenhouse gas emissions but also improving air quality and public health. Electric vehicles produce zero tailpipe emissions, which can significantly decrease pollution in urban areas and reduce the negative impacts of transportation on the environment.

To achieve this vision, EVgo is committed to sourcing renewable energy to power its charging stations. As of 2024, approximately 60% of the electricity used by EVgo's charging network comes from renewable sources such as solar and wind power. The company aims to increase this percentage in the coming years, further reducing the carbon footprint of EV charging. Additionally, EVgo actively participates in initiatives to promote sustainable transportation policies and practices at the local, state, and national levels.

The company's dedication to a cleaner future is also evident in its efforts to promote energy efficiency and reduce waste in its operations. EVgo implements energy-saving technologies in its charging stations and facilities and encourages its employees and customers to adopt sustainable practices. By aligning its business operations with environmental stewardship, EVgo seeks to lead by example and inspire others to join the transition to electric mobility.

Core Values in Action

EVgo's core values serve as the guiding principles for its employees and shape the company's culture and decision-making processes. Acting with integrity is paramount, ensuring that EVgo operates ethically and transparently in all its dealings. Being customer-obsessed means putting the needs and satisfaction of EV drivers first, striving to provide a seamless and enjoyable charging experience.

Moving fast and delivering reflects the company's commitment to innovation and continuous improvement, always seeking to enhance its services and stay ahead of the curve in the rapidly evolving EV industry. Building an inclusive and diverse workplace is essential for fostering creativity, collaboration, and a sense of belonging among employees. Being an owner means taking responsibility for the company's success and working together to achieve its goals.

In 2024, EVgo demonstrated these core values through various initiatives. For example, the company launched a new customer loyalty program to reward frequent EV chargers and gather feedback to improve its services. It also implemented diversity and inclusion training programs for its employees and established partnerships with community organizations to promote STEM education and workforce development. By living its core values, EVgo aims to create a positive impact on its employees, customers, and the communities it serves.

EVgo, Inc. (EVGO) Core Values of

As a leader in electric vehicle (EV) charging solutions, Company operates with a defined set of core values that guide its actions and strategic decisions. These values reflect Company's commitment to innovation, customer satisfaction, and environmental stewardship.

Below are the core values that define Company:

• Provide excellent service
• Be honest, transparent and respectful
• Act with integrity
• Be accountable
• Innovate

Providing Excellent Service

Company is committed to providing excellent service by ensuring a seamless and reliable charging experience for EV drivers. This commitment is reflected in several aspects of their operations:

• Network Reliability: Company focuses on maintaining a high uptime for its charging stations. For example, in 2024, Company reported a network availability rate of over 98%, ensuring that EV drivers can depend on their chargers.
• Customer Support: Company offers 24/7 customer support to assist users with any issues they may encounter. In 2024, the customer support team resolved over 95% of inquiries within 15 minutes.
• User-Friendly Experience: The Company app and charging stations are designed to be intuitive and easy to use. The app has a rating of 4.5 stars on app stores, based on feedback from over 50,000 users.

Honesty, Transparency, and Respect

Company emphasizes honesty, transparency, and respect in all its interactions, fostering trust with customers, partners, and employees.

• Transparent Pricing: Company provides clear and upfront pricing information, avoiding hidden fees. In 2024, Company introduced a pricing structure that clearly outlines the cost per minute of charging, which helped increase customer satisfaction by 20%.
• Open Communication: Company communicates openly about its progress, challenges, and future plans. The quarterly earnings calls and investor updates provide detailed insights into the company's performance and strategic direction.
• Respectful Workplace: Company promotes a respectful and inclusive workplace. In 2024, Company reported that 90% of employees feel valued and respected, based on an internal survey.

Acting with Integrity

Company operates with the highest ethical standards, ensuring that all business practices are conducted with integrity.

• Ethical Sourcing: Company is committed to ethical sourcing of materials and equipment. Company partners with suppliers who adhere to strict labor and environmental standards.
• Compliance: Company adheres to all applicable laws and regulations. In 2024, Company completed a comprehensive compliance audit, ensuring that all operations meet regulatory requirements.
• Data Privacy: Company protects customer data with the utmost care. Company complies with all data privacy regulations, including GDPR and CCPA.

Being Accountable

Company takes responsibility for its actions and results, holding itself accountable to its stakeholders.

• Performance Metrics: Company sets clear performance metrics and tracks progress regularly. The key performance indicators (KPIs) include network uptime, customer satisfaction, and revenue growth.
• Environmental Impact: Company is accountable for its environmental impact. Company publishes an annual sustainability report, detailing its efforts to reduce its carbon footprint.
• Customer Feedback: Company acts on customer feedback to improve its services. In 2024, Company implemented several changes based on customer suggestions, resulting in a 15% increase in customer satisfaction.

Innovation

Company fosters a culture of innovation, continuously seeking new ways to improve its technology and services.

• Technology Development: Company invests in research and development to enhance its charging technology. In 2024, Company launched a new generation of fast chargers that can deliver up to 350kW, significantly reducing charging times.
• Strategic Partnerships: Company collaborates with other companies to drive innovation. Company has partnered with automakers and technology providers to develop new charging solutions.
• Pilot Programs: Company conducts pilot programs to test new ideas and technologies. In 2024, Company launched a pilot program for battery storage solutions at its charging stations, aiming to improve energy efficiency.

Company's unwavering commitment to these core values underpins its mission to accelerate the adoption of electric vehicles and contribute to a cleaner, more sustainable future. By focusing on service excellence, ethical conduct, accountability, and continuous innovation, Company strives to lead the EV charging industry and create lasting value for its stakeholders.