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EV Charging Company Wins $1.1 Billion Federal Loan Guarantee as Helene Victims Suffer
Breitbart ^ | 10/04/2024 | Lucas Nolan

Posted on 10/04/2024 1:01:29 PM PDT by ChicagoConservative27

Shares of electric vehicle charging company EVgo Inc. jumped by the most in over three years after securing a major financing deal from the U.S. government. Meanwhile, Helene victims are suffering in the face of paltry FEMA aid.

Bloomberg reports that in a significant boost to its expansion plans, Los Angeles-based EVgo Inc. announced on Thursday that it has received a conditional loan guarantee of up to $1.05 billion from the US Department of Energy (DOE). The news sent the EV company’s stock soaring by 64 percent, marking its biggest single-day gain in more than three years.

As one of the leading providers of public fast charging services for EVs, EVgo operates over 850 fast charging locations in more than 60 metropolitan areas across 34 states. The company has established partnerships with automakers, fleet and rideshare operators, retail hosts, and public entities to further expand its network and promote EV adoption.

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: automotive; charging; company; electric; ev; federalloan
Your government HATES YOU
1 posted on 10/04/2024 1:01:29 PM PDT by ChicagoConservative27
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To: ChicagoConservative27
bttt
2 posted on 10/04/2024 1:03:08 PM PDT by timestax
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To: ChicagoConservative27

“Your government HATES YOU”

The feeling is mutual.


3 posted on 10/04/2024 1:06:59 PM PDT by chuckb87
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To: ChicagoConservative27

The feeling is mutual.


4 posted on 10/04/2024 1:07:21 PM PDT by cableguymn (They don't want peace they want skeletons )
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To: ChicagoConservative27
Likely a Democrat donor that runs that company. More of the Green Grift that we saw during the Obama years.
5 posted on 10/04/2024 1:39:49 PM PDT by Major Matt Mason
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To: Major Matt Mason
A safe landing gig for a few hundred political appointees if the administration loses the election. That "Reward Our Friends" thingy.

Remember Hillary saying, "I can't be responsible for every undercapitalized business in America"? It seems times have shifted.

6 posted on 10/04/2024 1:53:31 PM PDT by blackdog ((Z28.310) Be careful what you say. Your refrigerator may be listening & reporting you.)
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To: ChicagoConservative27
The more the government embeds itself into EV's and charging, the slower and less efficient charging will grow.

EVGo has no reason to make a good charging experience for the end consumer: because their customer is the government, not the EV driver. And other businesses will be afraid to set up new chargers because they'll fear that their investment will be for naught if a cheaper, government subsidized charger will be set up nearby.

7 posted on 10/04/2024 2:15:31 PM PDT by Tell It Right (1 Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: ChicagoConservative27

And that’s how politicians become multi-millionaires.


8 posted on 10/04/2024 2:18:59 PM PDT by stevio (Fight until you die!)
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To: ChicagoConservative27

Another bailout?


9 posted on 10/04/2024 2:50:35 PM PDT by Bikkuri (I am proud to be a PureBlood.)
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To: ChicagoConservative27

“Let them know eat cake.”


10 posted on 10/04/2024 6:04:13 PM PDT by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: ChicagoConservative27

Maybe they can provide another 8 charging stations where 1/4 of them don’t work...the Dems’ only priority is to make those who make the world go around suffer.


11 posted on 10/05/2024 5:37:17 AM PDT by trebb (So many fools - so little time...)
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To: Tell It Right

You are right about gov stepping in. The following article has details about the loan arrangement:

https://www.businesswire.com/news/home/20241003903916/en/EVgo-Receives-Conditional-Commitment-for-DOE-Loan-Guarantee-of-up-to-1.05-Billion-to-Accelerate-Buildout-of-Public-Fast-Charging-Across-the-U.S.

Probably next to a zero interest loans, tax credits and the loan is a limited recourse loaning meaning they don’t have to pay it all back if the project goes sour.


12 posted on 10/05/2024 6:40:29 AM PDT by EVO X ( )
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