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Benzinga
Benzinga
Business
Shivani Kumaresan

Evgo Inks Commercial Agreement With This Auto Giant

EVGO Cadillac GM EVgo Inc General Motors Co Nasdaq NYSE
  • EVgo Inc (NASDAQ:EVGO) has signed a commercial agreement with General Motors Co (NYSE:GM) brand Cadillac to offer drivers of the 2023 Cadillac LYRIQ the option of two years of unlimited public fast charging. The financial terms were not disclosed.
  • Under the agreement, Cadillac offers eligible LYRIQ drivers the choice of 2 years of unlimited charging on EVgo's network or a home charger installation credit.
  • The agreement builds on the broader collaboration between EVgo and GM, which includes plans to build 3,250 high-powered DC fast charging stalls through 2025.
  • "Cadillac is demonstrating how to be ahead of the curve by treating charging as a cornerstone of the EV buying experience from the onset," said CEO Cathy Zoi.
  • Price Action: EVGO shares are trading lower by 2.62% at $8.56 on the last check Monday.
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