EVgo Opens First Fast Charging Stations Deployed Through Toyota's "Empact" Vision
The companies collaborated on high-power DC fast charger deployment in key markets to increase public charging infrastructure
LOS ANGELES, March 11, 2025--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) ("EVgo" or the "Company"), one of the nation's largest providers of public fast charging infrastructure for electric vehicles (EVs), and Toyota Motor North America, Inc. ("Toyota") today announced the opening of the first DC fast charging (DCFC) stations in Baldwin Park and Sacramento, California, built through Toyota's "Empact" vision. The new co-branded stations, owned and operated by EVgo, each serve up to eight vehicles simultaneously and exclusively feature 350kW fast chargers.
"Availability of charging is essential as consumers consider buying or leasing an EV. As automakers offer more electric vehicle choices, EVgo will continue deploying fast chargers for current and prospective EV drivers," said Executive Vice President of Growth at EVgo, Scott Levitan. "Collaboration with automakers has been core to our expansion over the last several years, and EVgo is grateful for the continued support from Toyota."
First announced in April 2023, Toyota's "Empact" vision aims to aid the transition of underserved communities to a future of electrified vehicle transport as part of Toyota's broader mission of providing "mobility for all." The strategy centers on three fundamental areas: access to charging, providing affordable mobility solutions, and reducing carbon emissions. The newly opened stations will help provide convenient access to EV charging for members of the surrounding communities.
"Together with EVgo, we are supporting broader access to charging infrastructure for all battery EV drivers, including those driving Toyota and Lexus BEVs. We aim to ensure that customers find the newly opened stations both convenient and efficient for their charging needs," said Toyota Motor North America's General Manager of EV Charging Solutions, James George.
The new stations are located in amenity-rich areas featuring convenient access to grocery stores, restaurants, shopping malls and other activities. In addition to the infrastructure collaboration, EVgo also recently extended its charging program with Toyota that provides one year of complimentary charging for drivers who buy or lease the 2025 Toyota bZ4X battery EV compact crossover sport utility vehicle. Customers can use the Toyota App on their mobile device, which will also help them locate EVgo stations and initiate the complimentary charging offer.
"Toyota and EVgo's action to bring advanced fast chargers to Sacramento is an important milestone," said State Senator Angelique Ashby, D-Sacramento. "Fast charging stations provide critical infrastructure that will amplify the use of clean energy transportation across Senate District 8. This initiative is a win for our environment and for the future of sustainable mobility in Sacramento."
"We are excited to receive a new, EV fast charging station in Baldwin Park, which will support our city's residents and visitors," said State Assemblywoman Blanca Rubio, D-Baldwin Park. "Infrastructure investments like this are extremely beneficial to those in the region needing a place to charge their vehicle and a positive step in air quality clean up."
For more information about the EVgo network, visit www.evgo.com. For more information on Toyota's electrified vehicle offerings, please visit www.Toyota.com/electrified.
About EVgo
EVgo (Nasdaq: EVGO) is one of the nation's leading public fast charging providers. With more than 1,100 fast charging stations across over 40 states, EVgo strategically deploys localized and accessible charging infrastructure by partnering with leading businesses across the U.S., including retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators, and autonomous vehicle companies. At its dedicated Innovation Lab, EVgo performs extensive interoperability testing and has ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience.
About Toyota
Toyota (NYSE:TM) has been a part of the cultural fabric in North America for nearly 70 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships.
Toyota directly employs nearly 64,000 people in North America who have contributed to the design, engineering, and assembly of nearly 49 million cars and trucks at our 14 manufacturing plants. In spring 2025, Toyota's plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. With more electrified vehicles on the road than any other automaker, Toyota currently offers 31 electrified options.
For more information about Toyota, visit www.ToyotaNewsroom.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250311325289/en/
Contacts
EVgo Contacts For Investors:investors@evgo.com
For Media:press@evgo.com
Toyota Media Contact Jacob Brownjacob.brown@toyota.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
25 minutes ago
- Business Wire
Qualcomm to Acquire Alphawave Semi
LONDON--(BUSINESS WIRE)--Qualcomm Incorporated (NASDAQ: QCOM) today announced that it has reached an agreement with Alphawave IP Group plc (AWE.L) ('Alphawave Semi') regarding the terms and conditions of a recommended acquisition by Aqua Acquisition Sub LLC, an indirect wholly-owned subsidiary of Qualcomm Incorporated, for the entire issued and to be issued ordinary share capital of Alphawave Semi at an implied enterprise value of approximately US$2.4 billion. The acquisition of Alphawave Semi aims to further accelerate, and provide key assets for, Qualcomm's expansion into data centers. Qualcomm Oryon CPU and Hexagon NPU processors are well positioned to meet the growing demand for high-performance, low-power computing, which is being driven by a rapid increase in AI inferencing and the transition to custom CPUs in data centers. Alphawave Semi is a global leader in high-speed wired connectivity and compute technologies delivering IP, custom silicon, connectivity products and chiplets that drive faster, more reliable data transfer with higher performance and lower power consumption. Alphawave Semi's products form a part of the core infrastructure enabling next generation services in a wide array of high growth applications, including data centers, AI, data networking and data storage. 'Under Tony's leadership Alphawave Semi has developed leading high-speed wired connectivity and compute technologies that are complementary to our power-efficient CPU and NPU cores,' said Cristiano Amon, president and CEO of Qualcomm Incorporated. 'Qualcomm's advanced custom processors are a natural fit for data center workloads. The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high growth areas, including data center infrastructure.' 'Qualcomm's acquisition of Alphawave Semi represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers,' said Tony Pialis, president and CEO of Alphawave Semi. 'By combining our resources and expertise, we will be well-positioned to expand our product offerings, reach a broader customer base, and enhance our technological capabilities. Together, we will unlock new opportunities for growth, drive innovation, and create a leading player in AI compute and connectivity solutions.' This acquisition of Alphawave Semi is expected to complete during the first calendar quarter of 2026, subject to the satisfaction or waiver (where applicable) of certain conditions as set forth in the announcement released today in accordance with Rule 2.7 of the UK Takeover Code, including (amongst other things) certain regulatory approvals, the approval from the requisite majority of Alphawave Semi's shareholders and sanction by the High Court in the UK. The full announcement, issued in accordance with Rule 2.7 of the UK Takeover Code, can be found on our website at: About Qualcomm Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Building on our 40 years of technology leadership in creating era-defining breakthroughs, we deliver a broad portfolio of solutions built with our leading-edge AI, high-performance, low-power computing, and connectivity. Our Snapdragon® platforms power extraordinary consumer experiences, and our Qualcomm Dragonwing™ products empower businesses and industries to scale to new heights. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patents are licensed by Qualcomm Incorporated. Qualcomm, Snapdragon, Qualcomm Dragonwing, Qualcomm Oryon, and Hexagon are trademarks or registered trademarks of Qualcomm Incorporated.
Yahoo
36 minutes ago
- Yahoo
Could Buying Palantir Today Set You Up for Life?
Palantir stock has been a top performer, and the company's earnings have soared too. Though the company's prospects look bright, investors have worried about the stock's high valuation. 10 stocks we like better than Palantir Technologies › Palantir Technologies (NASDAQ: PLTR) has been around for more than 20 years and in its earlier days was most known for software contracts with government clients. But in recent times, commercial customers have offered this player an exciting new revenue stream, and today, with both government and commercial growth soaring, the future looks bright. Investors have recognized this, and they've been piling into Palantir shares for quite some time. Last year, the stock surged 340%, posting the best performance in the S&P 500. In fact, Palantir's share price has climbed so far and so fast that it's found itself at an eye-popping valuation. Still, earnings have continued to march higher and haven't shown any signs of slowing. Considering this, could buying Palantir today, even at the current valuation, set you up for life? Let's find out. So, first, a quick summary of Palantir's business. The company, through its software platforms, helps customers aggregate often the most disparate of data to make better use of it. Palantir has integrated artificial intelligence (AI) into this process and two years ago launched its Artificial Intelligence Platform (AIP). This has made the company one of the superstars of the AI boom as both governments and commercial customers raced to get in on this often game-changing tool. AIP can be useful in everything from battlefield operations, immediately identifying risks and implementing key plans, to business needs -- for example, customer United Airlines is using AIP for predictive maintenance, helping the airline avoid delays and millions of dollars in costs. How did Palantir reach so many customers so quickly with AIP? The company launched AIP bootcamps, sessions that allow potential users to go from zero to a use case within hours -- so they can see exactly how AIP could benefit their businesses. All of this has translated into explosive revenue growth, particularly as commercial customers discover that Palantir is no longer a business that primarily serves governments -- instead, its technology has broad applications that also are valuable in the commercial world. In the most recent quarter, U.S. commercial revenue advanced more than 70% to $255 million, and the U.S. commercial business delivered its most valuable quarter, booking total contract value of $810 million. That's up 183% from the year-earlier period. As I mentioned, this is as government revenue continues to climb in the double digits quarter after quarter, so Palantir has conserved the growth of its main revenue stream -- the government business -- and added to it with a newer and high-potential revenue stream -- I say "high potential" because companies across industries are aiming to apply AI to their businesses, and Palantir's AIP makes it easy for them to do this. Importantly, Palantir isn't only focused on revenue gains, but the company also has struck a fantastic balance between growth and profitability -- as seen in its Rule of 40 score. Scores of 40% or higher indicate a software player has balanced these two priorities well, so Palantir's delivery of a score of 83% shows the company is hitting it out of the park. Only about a third of software companies meet this rule, according to McKinsey research, and this further highlights Palantir's accomplishment. All of this is very positive, but now let's look at the one point that's been a thorn in the side of Palantir and its investors: and that's the stock's valuation. Today, it trades for an eye-popping 219 times forward earnings estimates, making some investors question whether they should buy the stock or even stay invested if they've already bought it. At such a valuation, the risk is any disappointment could hurt stock performance. So, considering all of this, could this unstoppable (at least so far) stock set you up for life? There actually are two questions here, and the first is: Is Palantir a buy? If you're a value investor, you're sure to find a stock better suited to your strategy elsewhere. But if you're a growth investor and aim to hold on for at least five years, even at today's high valuation it's worth picking up a few Palantir shares. The forward price-to-earnings ratio we looked at, above, considers potential earnings next year -- but not over the long term. Palantir is well positioned to gain as the AI boom continues over the next several years, so even if the stock dips at certain points here and there, you still may benefit greatly from an investment today. As for setting you up for life, this growth stock could help -- but it's never a good idea to depend on one stock on its own to do the whole job. It's much too risky to put all of your eggs in one basket. Instead, supercharge your wealth-building power by investing in several quality stocks and holding on for the long haul. Before you buy stock in Palantir Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Palantir Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Palantir Technologies. The Motley Fool has a disclosure policy. Could Buying Palantir Today Set You Up for Life? was originally published by The Motley Fool
Yahoo
an hour ago
- Yahoo
Rio Tinto seeks innovative collaborators at London Tech Week
LONDON, June 09, 2025--(BUSINESS WIRE)--Rio Tinto is taking its innovation strategy directly to entrepreneurs, researchers and innovators at London Tech Week as it works to accelerate the breakthroughs needed to sustainably deliver the materials the world needs. The only mining company at London Tech Week, Rio Tinto will lead discussions on how to meet the soaring global demand for critical minerals, deliver materials at scale more sustainably, and harness innovation to deliver the technologies of tomorrow, from AI to electrification to renewables. Rio Tinto Chief Innovation Officer Dan Walker said: "Innovation is in our DNA. For over 150 years, Rio Tinto has operated at the intersection of mining and technology, and there has never been a time when innovation is needed more. "As the world faces increasingly complex challenges, from climate change and urbanisation to the energy transition and electrification, meeting the world's needs requires more materials, delivered faster, more sustainably, and with a lighter footprint at every step. "These are deeply complex issues that no organisation can solve alone. We want to find the very best innovators and entrepreneurs to join our global network of startups, universities, tech leaders and governments to help turn bold ideas into real-world solutions." Rio Tinto's expanding innovation ecosystem includes its Accelerator Program, run in partnership with early-stage investor Founders Factory, and its Ventures Fund, which support high-potential startups mining and sustainability. Last year, Rio Tinto also invested $150 million to launch the Rio Tinto Centre for Future Materials, in collaboration with five world-leading universities, to advance transformational research to accelerate progress towards net zero. Led by Imperial College London, the academic partners include The University of British Columbia, Vancouver; The University of California, Berkeley; The University of the Witwatersrand, Johannesburg; and The Australian National University, Canberra. Rio Tinto speaking sessions at London Tech Week 2025: Monday 9 June: "Unlocking tomorrow's tech: powering innovation that ensures the sustainable supply of the materials that matter" — Rio Tinto CEO Jakob Stausholm in conversation with Dan Walker, Chief Innovation Officer (Main Stage) Wednesday 11 June: "Creating the Future from Campus: Why Are University Spinouts So Important for Innovation?" — Panel featuring Marie-Pierre Paquin, Rio Tinto Head of Science & Partnerships (Founders Stage) Wednesday 11 June: "Why the future depends on blurring the lines between Mining and ClimateTech" — Panel moderated by Pekka Santasalo, Rio Tinto Head of Growth & Ventures, with founders from three startups backed by Rio Tinto (Impact Stage) View source version on Contacts Please direct all enquiries to Media Relations, United Kingdom Matthew Klar M +44 7796 630 637David Outhwaite M +44 7787 597 493 Media Relations, Australia Matt Chambers M +61 433 525 739Michelle Lee M +61 458 609 322Rachel Pupazzoni M +61 438 875 469 Media Relations, Canada Simon Letendre M +1 514 796 4973Malika Cherry M +1 418 592 7293Vanessa Damha M +1 514 715 2152 Media Relations, US Jesse Riseborough M +1 202 394 9480 Rio Tinto plc 6 St James's SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000Registered in EnglandNo. 719885 Rio Tinto Limited Level 43, 120 Collins StreetMelbourne 3000AustraliaT +61 3 9283 3333Registered in AustraliaABN 96 004 458 404 Category: General
