Electric vehicle (SV) 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 capitalise on the US government’s push to boost EV adoption.
A $5 billion federal program to electrify US highways and a recent slew of deals by market leader Tesla to open up its charging technology to rival automakers has unleashed a capital-intensive race among charger makers and operators to offer new products and expand their networks.
