Shortages of a major electrical appliance slow down EVgo Inc.’s ability. to expand its network of electric car stations.
Shortages of a major electrical appliance slow down EVgo Inc.’s ability. to expand its network of electric car stations.
According to Chief Executive Officer Cathy Zoi, 130 newly installed charging stations were waiting to be connected to the local grids at the end of the third quarter. She attributed the delays to a lack of transformers — devices that lower the voltage of electricity flowing over power lines to a level that appliances can use. Another reason: labor shortages.
The transformer shortage is a potential stumbling block to President Joe Biden’s drive to reduce transportation emissions through a nationwide network of EV chargers. The US recently launched a $5 billion effort to do this.
EVgo on Wednesday lowered its forecast for the number of charging stations the company expects to be installed or under construction by the end of the year to a range of 2,800 to 3,100 from a range of 3,000 to 3,300.
The company’s high-speed chargers usually require local utilities to upgrade nearby transformers, Zoi said during a conversation with investors. EVgo is now collaborating with utilities earlier in planning new stations, giving the companies more time to access the necessary equipment.
