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Barchart
Nauman Khan

Is This EV Penny Stock a Buy as Tesla Supercharger Execs Join the Team?

EVGO Tesla Inc. GM General Motors Lyft Uber

Electric vehicle (EV) stocks have dipped, as high inflation and interest rates have slowed the pace of EV adoption, and an industry-wide price war has pressured margins. Nevertheless, EVgo (EVGO) stands out as an innovative EV charging play, positioned for a strong upside ahead - particularly after industry leader Tesla (TSLA) famously dismantled its Supercharger team earlier this year. 

On July 25, EVgo said it added top names from both Tesla and General Motors (GM) to the firm's top-level leadership, including Supercharger veterans Martin Sukup and Jeff Inhofer, alongside former General Motors EV executive Alex Keros. These moves enhance EVgo's profile and expertise as a leader in the public fast-charging network sector.

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