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Press Release

EVgo and MHX, LLC Partner to Power Class 8 Electric Truck Fleet

Published by Todd Bush on October 27, 2022

October 27, 2022 07:00 AM Eastern Daylight Time LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) (EVgo), a leader in fleet electrification and owner and operator of the nation's largest public fast charging network for electric vehicles (EVs), today announced a partnership with MHX, LLC, a full-service logistics operator in California, providing a unique transload and transportation service which partners in moving product via truck, rail, or ocean vessel, to support MHX's first-ever fleet electrification project. The collaboration will begin with the deployment of EVgo fast charging infrastructure at MHX's location in Fontana, California, which will be backed by 24/7 customer support as well as innovative fleet charging and management capabilities through EVgo Optima™ and EVgold™ solutions. The project will feature high-power 350kW fast chargers, capable of serving six vehicles simultaneously.

MHX has a fleet of 60+ flatbed trucks, which complement their strategically placed facilities throughout California, and will soon add 10 new Kenworth T680E Class 8 electric heavy-duty trucks. The new fleet of electric trucks will charge at the company's Fontana, CA location, supporting its local clients in addition to operations at their Carson, CA facility offering Port Services out of the Port of Los Angeles/Long Beach, where they handle local dray for break bulk commodities along with devanning and heavy weight corridor access for container movements. This project is partially funded by the California Energy Commission's (CEC) Energy Infrastructure Incentives for Zero-Emission Commercial Vehicles (Energiize) grant program and the South Coast Air Quality Management District-Mobile Source Air Pollution Reduction Review Committee (SCAQMD-MSRC) grant program.

'As we explored bringing electric trucks into our fleet, we knew how important charging was to make that conversion a reality, and that an experienced partner was needed to help us navigate both the short- and long-term considerations to ensure a successful transition,' said Alex Nicholas, VP of Operations at MHX. 'Our collaboration with EVgo goes beyond access to charging stations but rather a full suite of technology solutions and tools to empower MHX to streamline our transition to an electrified fleet.'

EVgo Optima™, a smart cloud-based fleet charging software, is designed to allow fleet partners like MHX to effectively manage time of use (TOU) rates to mitigate peak demand charges while simultaneously ensuring their vehicles are sufficiently charged and operational when needed. Through EVgold™, MHX can also take advantage of EVgo's premiere operations and maintenance service offering, featuring a service level agreement-based uptime guarantee, ongoing monitoring, and 24/7 customer support.

'Fleet electrification is a complex undertaking, especially for Class 8 trucks, and EVgo has pioneered value-adding technologies like EVgo Optima to help fleet partners make the switch to save money and the environment,' said Jonathan Levy, Chief Commercial Officer at EVgo. 'We look forward to powering MHX's first foray into clean transportation and demonstrating why our combination of charging solutions make EVgo a partner-of-choice for fleets across the country.'

The Advanced Clean Truck (ACT) rule, which requires truck makers to sell an increasing number of zero-emission trucks, has been adopted by six states to date – California, Massachusetts, New Jersey, New York, Oregon, and Washington – with more expected to adopt sales requirements in the next year. As fleets transition to zero-emission vehicles to meet ACT requirements, EVgo's turnkey solutions can provide fleet managers with the tools to operate electrified medium-and heavy-duty fleets.

For more information about EVgo fleet charging solutions, visit https://www.evgo.com/charging-solutions/evgo-fleet-solutions/.

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since its founding in 2010, EVgo has led the way to a cleaner transportation future and its network has been powered by 100% renewable energy since 2019 through renewable energy certificates. As the nation's largest public fast charging network, EVgo's owned and operated charging network features over 850 fast charging locations – currently serving over 60 metropolitan areas across more than 30 states – and continues to add more DC fast charging locations through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables world-class charging experience where drivers live, work, travel and play.

Forward-Looking Statements

This press release contains 'forward-looking statements' within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on management's current expectations or beliefs and are subject to numerous assumptions, risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to, express or implied statements regarding EVgo's future financial performance, increased EV adoption, and the deployment of chargers in connection with and the anticipated benefits of the collaboration with MHX, LLC. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of EVgo's management and are not predictions of actual performance. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release. See 'Risk Factors' in EVgo's Annual Report on Form 10-K filed with the SEC on March 24, 2022, as well as its other filings with the SEC, copies of which are available on EVgo's website at investors.evgo.com, and on the SEC's website at www.sec.gov. All forward-looking statements in this press release are based on information available to EVgo as of the date hereof, and EVgo does do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

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