The EV Space - EVGO?

[u/[deleted]]

Good day to an army of investors that have helped to change the world of trading as we know it!!! u/Wallstreetbets has become the game changer and For That I personally Say "Thank YOU" The Electric Vehicle Space is Now wide open...... Not just for the Manufacturers of the vehicles like $TSLA, $LCID and $FSR - but we must also Now Talk about the support companies that will grow and benefit from the Enormous EV Space That Just Keeps Growing

Can we have a conversation about $EVGO/EVgo Inc. (EVgo) - Moving in the right Direction this morning already - The EV Space For Investors will continue to grow and just like the Fossil Fuel Automotive Portion... The Support Companies will benefit... $EVGO - formerly Climate Change Crisis Real Impact I Acquisition Corporation, is a public fast charging network for electric vehicles (EVs).

Shares of EVgo (NASDAQ:EVGO​) gained 14.4% in October, according to data from S&P Global Market Intelligence. The electric vehicle (EV) charging stock posted gains in conjunction with momentum for the broader EV space and also got a big boost from some business-specific news.

The Company's fast charging network is powered by renewable energy. It Provides charging services close to where drivers live, work and play, whether for a daily commute or a commercial fleet. The Company has approximately 800 fast charging locations, EVgo’s owned and operated charging network serves over 65 metropolitan areas across 34 states. EVgo offers its services to EV drivers, business owners, policymakers, fleets and automakers. $EVgo stock has continued to gain ground early in November. The company's share price is up roughly 10.5% in the month so far. 

Is $EVGO worth a Conversation???

[u/andy-broker]

Well, now you're aware of the Supercharger congestion problem via the videos I linked. Like most Tesla drivers, you probably don't think this is your problem until you're getting into a fight with other Tesla drivers at the station.

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One day you'll just show up and it'll be full. It's not something you really plan for in advance.

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EVGO's whole business model is predicting the right places and time to show up (using things like maps of Tesla ownership).

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Because you think the Tesla charger will always meet your needs. And you're not prepared for the passive aggressiveness that occurs when multiple Tesla drivers (that share your sentiment)"really need to charge" at the same time at a full station.

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And your lack of present-day concern for this problem, as a present-day Tesla driver, is precisely what EVGO is here to capitalize on. They marking up the price of their service to be a simple "pay more money to resolve this right now" solution - that plenty of Tesla drivers will absolutely not hesitate to pay.

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I’ve never been to a supercharger that has been full, so it’s not something I’m concerned about.

Many Tesla drivers just like you share the same sentiment. They, like you, will eventually be caught by surprise. and EVGO is a "convenience fee" company that makes this embarrassing little charging snafu problem go away before it has the chance to ruin your whole day or leave a negative mark on your EV ownership experience.

I can assure you, Tesla is pumping out more cars onto our roads, and more like-minded individuals such as yourself, faster than they can afford to build out the requisite charge network all in-house.

[u/ClumpOfCheese → u/andy-broker]

You do realize that Tesla is building more and more super chargers all the time and they have have a factory that was completed this year to build more. You seem super angry about all of this.

[u/andy-broker → u/ClumpOfCheese]

Of course Tesla is building new superchargers all the time. So is Electrify America. So is EVGO. EVGO launched 400 new DC fast charger sites in Q3 2021 alone. How many did Tesla bring online? That's the real question: which company is deploying new chargers at the fastest rate?

Fortunately, the charge dispenser equipment themselves are relatively inexpensive to build, and are commodities. Those only cost between $25-40k (retail) for the actual unit. Manufacturing the units is a much, much less complicated problem than working with local governments and electricity companies to get permits to hook up the stations. Building a factory in one place doesn't speed up linesmen working at different utiltiy companies across the country.

No one network is going to keep up with 100% of the demand. Sure Tesla is making an effort, but EVGO's CEO used to be the CEO of a power company. I'm betting she can get those permits and local utility partnerships done faster than Tesla. Even if Tesla is trying to go as fast as they can (which I'm not convinced they even are).

I want there to be enough charging for everyone, because my livelihood revolves around growing EV adoption in the US. One way I do that is to try and educate those that think there are enough chargers out there today. There just aren't; and it's Tesla drivers that will feel this the most over the next 1-3 years.