The United States on Thursday offered EVgo a conditional loan guarantee of up to $1.05 billion to expand public electric vehicle-charging infrastructure across the country, some of which in marginalized urban communities.

Shares of EVgo jumped more than 30% after the charging startup got a $1.05 billion loan commitment from the Energy Department's Loan Programs Office. The loan is part of the government's effort to [ac

EVgo has received a conditional commitment from the Department of Energy for a $1.05 billion loan. The low-cost financing would enable the company to build approximately 7,500 new charging stalls across the country.