Electric vehicle charging startup EVgo has secured a $1.25 billion loan from the U.S. Department of Energy for installing 7,500 chargers across 1,100 stations over five years.
The loan is part of the Biden administration's initiative to approve clean energy funds rapidly, especially in light of potential changes in funding under a Trump administration.
This ambitious project by EVgo is expected to create over 180 construction jobs and more than 550 maintenance and support positions, contributing to local economies.
Microsoft recently mentioned it will provide EVgo with cloud computing technology, enhancing their operations and customer service while supporting the infrastructure of electric vehicle charging.
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