EVgo acquires company behind popular PlugShare EV charging app, we ask some questions

Entertainment

EVgo announced today the acquisition of Recargo, a company better known for being behind PlugShare, a popular EV charging app.

Over the years, PlugShare has become the go-to app for electric car owners looking to find charging stations.

It is sort of the Yelp of EV charging.

About seven out of 10 EV owners in the US have downloaded the PlugShare app.

The company also developed a payment system for EV charging.

Now, EVgo, one of the biggest charging network companies in the US, announced that it acquired Recargo in a $25 million cash-only transaction.

Cathy Zoi, CEO of EVgo, commented on the announcement:

“At EVgo, we have a relentless commitment to growing the EV driver base and enhancing the customer experience. The Recargo team shares that same commitment, developing innovative software to improve the charging experience. Recargo’s PlugShare platform has become the go-to mobile app for EV drivers.  EVgo and Recargo’s combined software expertise will make driving an EV and charging it even easier — and more delightful.  Together, we will extend and accelerate the reach of our business while continuing to shape the future of EV charging.”

Nick Wild, CEO of Recargo, will continue to serve as President and CEO of the new wholly-owned subsidiary under EVgo.

He commented on the acquisition:

“EVgo and Recargo have a long history of partnering to enhance the driver experience. The entire Recargo team is excited to have the opportunity to further accelerate our growth as part of the EVgo family. PlugShare has been the first and most trusted choice for EV drivers looking for information on public charging, and we are thrilled that the EVgo team is committed to the continued independence of our PlugScore™ system, increasing transparency and supporting broad interoperability and neutrality.”

There are some concerns about Evgo’s acquisition of the app.

One of PlugShare’s biggest advantages is that it includes data on charging stations from all public charging networks.

Also, they weren’t backed by a specific charging network, and therefore, they were not incentivized to skew reviews of some charging stations a certain way.

Ivo Steklac, CTO/COO of EVgo, did comment on trying to preserve the neutrality of PlugShare:

“This acquisition brings a great technical team into the fold and EVgo and Recargo can accelerate our collective growth, capitalizing on a shared focus of software innovation, commitment to open standards and interoperability, and a history of strong partnerships with automakers and other charging providers. To enhance transparency, EVgo and Recargo intend to publish PlugScore calculations and methodologies, enhance algorithms and further integrate customer and network feedback to improve the utility of the score while preserving its neutrality. Additionally, we expect to swiftly move to accept Pay with PlugShare (PWPS) on the EVgo network, opening the platform to other charging providers, giving drivers a simple way to use multiple networks and pay for charging in-app using PlugShare’s platform.”

We contacted Evgo about some of those concerns, and we will update if we get an answer.


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