Head Topics

EV charger operator EVCS seeks to raise $125 million to expand network

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 66%

Singapore Headlines News

Singapore Latest News,Singapore Headlines

NEW YORK : Electric-vehicle charger operator EVCS is looking to raise $125 million, according to a document seen by Reuters, as it races to expand its network of fast chargers eightfold by 2025 and capitalize on the U.S. government's push to boost EV adoption.A $5 billion federal program to electrify U.S.

NEW YORK : Electric-vehicle charger operator EVCS is looking to raise $125 million, according to a document seen by Reuters, as it races to expand its network of fast chargers eightfold by 2025 and capitalize on the U.S. government's push to boost EV adoption.

California-based EVCS has hired French bank BNP Paribas to advise it in the search for potential investors, according to the document dated June 2023 seen by Reuters.EVCS, which operates its own network of fast chargers as well as stations for clients such as Hertz and Hilton, plans to increase its network to 2,100 fast chargers by 2025 from 260 currently and focus on the U.S. states of California, Washington and Oregon, according to the document.

Countries are offering grants, tax credits and other incentives to makers of electric vehicles and the infrastructure needed to keep them moving, attracting private investment that is key to achieving targets such as the Biden administration's aim for EVs to make up 50 per cent of U.S. new-vehicle sales by 2030. The deals between Tesla and rivals also could make it easier for operators to cater to virtually all EVs.

Source: Energy Industry News (energyindustrynews.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in SG

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Michelin-starred Korean steakhouse Cote from New York opening in Singapore by end 2023Korean BBQ with fancy American steakhouse flourishes till the wee hours of the morning on Orchard Road. Sweet.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Anti-Asian hate crimes prompt action by New York’s Chinatown community“The only way to eradicate this kind of ignorance is through our public schools all throughout the state,” says New York state senator John Liu.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Saquon Barkley: “I could say f**k you to the Giants. I could say f**k you to my teammates”Saquon Barkley's contract dispute with the New York Giants brings memories of Le'Veon Bell's situation with the Pittsburgh Steelers. Will Barkley agree to the franchise tag?
Source: IndependentSG - 🏆 9. / 63 Read more »

Century-old festival documented in new book following nationwide studyThe Nine Emperor Gods Festival is recognised as part of Singapore’s Intangible Cultural Heritage. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »

Jason Chan elected as new Law Society president following Adrian Tan’s deathMr Chan’s term as president will take immediate effect and will continue until Dec 31. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »

Wounded US veterans accept new mission: Healing coral reefsThe veterans and institute staff planted 1,040 stony corals from six different species at a reef. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »