Wednesday, July 14, 2021

EVgo Acquires Recargo For $25M

Los Angeles-based electric vehicle (EV) charging network operator EVgo said this morning that it has acquired Recargo, a developer of e-mobility software. According to EVgo, it paid $25M in an all-cash transaction for Recargo, including a $3M loan repayment. Recargo was founded in 2009, and operates PlugShare, an online community for EV drivers, and also developed PlugShare, a mobile payment platform for EV cahrging networks. Recargo was based in El Segundo.

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