By Dhirendra Tripathi
Investing.com – EVgo stock (NASDAQ:EVGO) climbed 8% Thursday after the company said annual downloads on its PlugShare platform had crossed 1 million.
PlugShare is a platform used by electric vehicle drivers for locating and selecting public chargers. EVgo’s wholly-owned arm Recargo has developed the app that allows users to share their experiences and feedback around specific locations with other drivers, better plan both short and long range EV trips, rate their charging experiences.
EVgo acquired Recargo in July for $25 million in an all-cash transaction.
While awareness of EVs among consumers has increased over the year, many are still refraining from buying them over concerns related to the life of a single charge, the location of charging points and their accessibility.
EVgo said as of July, there were seven unique PlugShare app installs for every 10 EVs in operation in the U.S. Since its inception, over 3.6 million unique Apple (NASDAQ:AAPL) App Store and Google (NASDAQ:GOOGL) Play accounts worldwide have downloaded the app to their devices, contributing to more than 3.8 million reviews of public charging locations.