EVgo nabs $1.25 billion loan as Biden races to approve more EV spending
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The US Department of Energy announced a $1.25 billion loan to electric vehicle charging company EVgo as the Biden administration races to finalize its spending on EVs before Donald Trump takes office. The money will fund EVgo’s plans to install approximately 7,500 chargers at roughly 1,100 charging stations across the US over the next five years, with a particular focus on fast-charging 350kW stalls that can charge two vehicles simultaneously.
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