EVgo Open to Buying Charging Firms as Key Tax Credit Expire

EVgo Inc., one of America’s biggest charging companies, is open to buying its rivals as the end of a key federal subsidy adds further strain to the struggling industry, according to Chief Executive Officer Badar Khan.

“If there’s an opportunity for us to deploy capital that provides compelling returns for shareholders through M&A, then of course we’re going to look at it,” Khan said in an interview at Bloomberg’s headquarters in New York. EVgo is “very focused” on growing organically and not interested in poor quality assets, such as 50 kilowatts chargers that are slower. Those chargers are being removed from its existing sites, he said.