Elon Musk backtracks on Supercharger network halt, says more chargers coming
- Elon Musk's Supercharger Network Expansion:
- Musk tweeted about investing over $500M to expand Tesla's Supercharger network with thousands of new chargers.
- He created a "Supercharger Community" for discussions on the topic.
- Recent layoffs in Tesla's Supercharger team led to concerns about network growth.
- Automakers partnering with Tesla for Supercharger access questioned the network's future expansion.
- Competitors like EVgo and Blink Charging are looking to capitalize on Tesla's slowdown in Supercharger expansion.
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Analyst Views on EVGOW

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Management Insights: CEO Badar Khan reported a strong Q3 2025 with $92 million in revenue and record charging network revenues, highlighting a higher cash balance and significant infrastructure advancements, including nearly 4,600 operational stalls and a $41 million DOE loan to support expansion.
Financial Performance: The company experienced a 37% year-over-year revenue increase, with adjusted EBITDA improving to negative $5 million. Charging network gross margin rose to 35%, and operational stall growth was noted as a key revenue driver.
Outlook and Guidance: CFO Paul Dobson provided an optimistic outlook, expecting total revenues for 2025 to range between $350 million and $405 million, with a goal of achieving adjusted EBITDA breakeven in Q4 2025, despite some seasonality and contract closeout risks.
Analyst Sentiment: Analysts expressed cautious optimism regarding EV demand and profitability, focusing on stall deployment and pricing dynamics, while management maintained a confident tone about reaching critical financial milestones and expanding infrastructure.
Earnings Report Expectations: EVgo is set to report earnings, with analysts expecting a revenue growth of 35.8% year on year to $91.68 million, alongside an anticipated adjusted loss of -$0.16 per share.
Previous Performance: Last quarter, EVgo exceeded revenue expectations by 15.7%, reporting $98.03 million in revenue, a 47.2% increase year on year, and has only missed revenue estimates once in the past two years.
Market Sentiment: Despite positive trends in the renewable energy sector, with peers like Bloom Energy and EnerSys reporting strong growth, EVgo's stock has declined by 18% over the past month, with an average analyst price target of $6.34 compared to its current price of $3.50.
Investor Insights: There is a growing sentiment among investors in the renewable energy segment, with an average increase of 2.2% in share prices over the last month, contrasting with EVgo's recent performance.

Record Performance and Growth: EVgo reported a significant increase in customer consumption, with a 60% year-over-year revenue growth to $257 million in 2024. The company added over 1,200 operational stalls, reaching a total of over 4,000, and secured a $1.25 billion loan guarantee from the DOE to expand its network further.
Future Outlook and Strategic Partnerships: For 2025, EVgo anticipates revenues between $340 million and $380 million, driven by charging network revenues. The company is focusing on partnerships with rideshare and autonomous vehicle firms, while also planning to launch flagship sites with GM to enhance customer experiences.
EV Charging Network Update: The White House reported a growth in the US EV charging network, with over 192,000 publicly available charging ports as of Q3, an increase of approximately 9,000 from Q2. However, satisfaction with charger availability remains mixed, highlighting ongoing challenges in infrastructure development.
Government Initiatives and Challenges: President Biden's administration aims to install 500,000 new chargers by 2030 through the NEVI program, but progress has been slow due to state and local government experience levels. A recent poll indicates that 77% of Americans cite lack of charging stations as a barrier to EV adoption.

Fireside Chat Overview: Hooman Shahidi, Co-Founder & CEO of EVPassport, discussed the company's $200 million equity raise for expanding its EV charging network in North America during a fireside chat at Nasdaq MarketSite on July 29.
About Hooman Shahidi and EVPassport: Hooman is a recognized leader in climate technology and EV charging infrastructure, with extensive experience in the industry. EVPassport provides comprehensive EV charging solutions across North America, backed by a team with significant expertise from major tech companies.







