EV fast charging company, EVgo Inc (NASDAQ:EVGO) announced Monday that it received the first shipment of 350kW fast chargers from Delta Electronics. Chargers that are manufactured according to Build America, Buy America Act (BABA) standards.
The chargers are sourced from Delta Electronics' newly established facility in Plano, Texas. So far, Delta has provided 10 chargers, and EVgo anticipates receiving more 350kW BABA-compliant chargers from Delta Electronics later in the year.
“As states award their initial round of NEVI funding, the arrival of EVgo’s first batch of BABA fast chargers—with incredible speed for onshoring—signals both a tremendous moment for domestic charger manufacturing and for additional public funding opportunities as more states announce their awards,” said EVgo COO, Dennis Kish.
Through a strong partnership, EVgo and Delta Electronics managed to speed up the production timeline for the 350kW fast charger made in the USA, getting the first delivery out months before the original schedule. This 350kW gear is built to meet the BABA standards set by the Federal Highway Administration, which are needed for charging stations that get federal funding.
“We are very pleased with our close cooperation with EVgo and are proud that we have achieved our commitment faster than expected,” said Kelvin Huang, President of Delta Electronics Americas Region.
Shares of EVGO are up 3.87% in afternoon trading on Monday.