In a strategic move to further strengthen its leadership team, EVgo’s Board of Directors has announced the appointment of Badar Khan as the incoming Chief Executive Officer (CEO). Khan will succeed Cathy Zoi, who led the company to remarkable growth during her tenure. The transition is set to take place on November 9, 2023, and Zoi will retire from her role as CEO and from the Board.
Cathy Zoi’s tenure at EVgo has been marked by impressive achievements. Under her guidance, the company witnessed an exceptional 957% increase in quarterly revenue since its initial public offering in 2021. While the specific reasons for her retirement were not disclosed, Zoi will continue to contribute her expertise as an advisor during the transition period. Her collaboration with Khan will extend until the end of 2023 to ensure a seamless handover, according to an official statement.
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Reflecting on her impactful journey, Zoi expressed her satisfaction with the company’s evolution from a small private enterprise to a prominent player in the charging solutions sector. “Leading EVgo from a 50-person, private enterprise focused on a nascent EV sector to a leader in charging solutions serving nearly 700,000 customers has been a highlight of my career,” Zoi stated. She emphasized her team’s collective accomplishments in deploying robust growth in charger installations, network utilization, and company revenues.
Incoming CEO Badar Khan is no stranger to EVgo, having served on the company’s Board of Directors since 2022. With a wealth of experience spanning 25 years in the industry, Khan is hailed as an industry veteran. His previous role at National Grid, one of the world’s largest investor-owned utilities, saw him drive notable achievements. Khan’s track record includes spearheading the development of a substantial EV infrastructure program for utilities in the United States, catering to over 20 million customers. Notably, he held the positions of President at National Grid USA and President at National Grid Ventures from 2017 to 2022.
David Nanus, Chair of the Board of Directors at EVgo, spoke highly of Khan’s qualifications and insights gained through his role on the Board. Nanus cited Khan’s comprehensive understanding of the company’s dynamics and his proven ability to excel in competitive markets. “He has over 25 years of experience in the energy sector, including overseeing the development of one of the largest EV infrastructure programs for utilities in the US, servicing more than 20 million customers and executing critical partnerships and acquisitions,” Nanus remarked. He expressed his anticipation that Khan’s leadership would propel EVgo to new heights.
In a parallel development, EVgo and General Motors (GM) have offered an update on their joint initiative to expand fast-charging infrastructure across the United States. The partnership, initiated in 2020 and further expanded in 2021, aims to establish 3,250 DC charging stations in 52 major metropolitan markets by 2025. As of the present, the collaboration has already surpassed the milestone of installing over 1,000 fast-charging stalls.
See also: EVgo Secures $13.8 Million Funding for 20 Fast-Charging Stations in Ohio
The collaboration between EVgo and GM, which initially aimed to triple EVgo’s charging network, remains steadfast. Currently operating 900 fast-charging sites across 60 metropolitan areas and 30 states, EVgo is poised to extend its footprint through its white-label service, EVgo eXtend. This initiative aligns with GM’s branding efforts, as the high-power charging (HPC) stations will feature co-branding with the ‘Pilot Flying J’ and ‘Ultium Charge 360’ brands under General Motors.
Additionally, EVgo has joined the league of Charge Point Operators (CPOs) intending to offer Tesla NACS plugs nationwide, underlining the company’s commitment to providing versatile charging solutions. Notably, General Motors was an early adopter of the Tesla connector, showcasing its dedication to fostering cross-industry cooperation.
With the transition of leadership and the company’s ongoing collaborations, EVgo is poised to navigate the evolving landscape of electric vehicle infrastructure with renewed vigor and strategic foresight. As the industry continues to evolve, the stage is set for EVgo’s next chapter under the leadership of Badar Khan.
