EVgo Record Growth, Electrify America Reliability, CA Incentives

Introduction

The EV charging industry is demonstrating remarkable momentum as we approach the end of 2025, with major networks posting record financial results, network reliability reaching new highs, and California launching substantial new incentive programs. At Shaffer Construction, Inc., we track these developments closely to help Los Angeles property owners make informed decisions about their commercial EV charger installations and residential charging solutions. This week's news brings particularly encouraging signals for property owners considering EV infrastructure investments, from proof that charging networks are becoming more dependable to new funding opportunities that can significantly reduce installation costs.

EVgo Reports Record Q3 2025 Results With 37% Revenue Growth

EVgo, one of the nation's largest public fast charging networks, reported record financial results for Q3 2025, demonstrating that the EV charging business model is maturing rapidly. The company achieved total revenue of $92 million for the quarter, representing a 37% year over year increase. Charging network revenues specifically reached $56 million, up 33% from the prior year, while adjusted gross profit hit $27 million, a 48% improvement. Source: Yahoo Finance.

EVgo now operates 4,590 DC fast charging stalls nationwide and has dispensed 350 gigawatt hours of electricity over the trailing 12 months, a 13-fold increase that reflects both network expansion and growing utilization. The company serves over 1.6 million customer accounts and is approaching a critical milestone, anticipating break-even adjusted EBITDA in Q4 2025. Management raised full-year revenue guidance to $377.5 million at the midpoint, exceeding analyst expectations by nearly 3%. Source: Investing.com.

For commercial property owners in Los Angeles, EVgo's strong financial performance validates the growing market for EV charging services. Properties that install charging infrastructure capture a share of this expanding market while serving the needs of their tenants, customers, and employees. The company's expansion to nearly 100 NACS cables demonstrates the industry's convergence on the North American Charging Standard, simplifying equipment decisions for property owners. As we discussed in our guide to EV charger installations in 2025, the business case for charging infrastructure continues strengthening as utilization rates climb and the EV driver population grows.

Electrify America Proves Network Reliability on 1,765-Mile Coastal Road Trip

Electrify America responded to skeptics with a dramatic demonstration of its network reliability, completing a 1,765-mile journey from Portland, Maine to Key West, Florida using only its charging stations. The trip, documented by senior director of sales and marketing Rachel Moses, covered 14 states over six days and successfully charged at 15 Electrify America stations along the East Coast. The journey was inspired by a Reddit user who challenged Moses to prove the network's dependability through real-world testing. Source: PR Newswire.

Moses completed the trip using two vehicles, starting in a 2025 Volkswagen ID. Buzz before switching to a 2025 Ford Mustang Mach-E at the company's Center of Excellence in Reston, Virginia. Throughout the journey, the network proved highly dependable, with only minor issues encountered, a credit card reader problem that was easily resolved using the mobile app, and one stall with low charging power that required moving to an adjacent stall. The trip included a stop at Electrify America's first charging station, installed in 2018 in Chicopee, Massachusetts. Source: The EV Report.

This demonstration matters for property owners because it shows how far public charging infrastructure has progressed. Electrify America now maintains more than 1,000 stations with over 5,000 chargers across North America. The company also won the Reuters Events 2025 Automotive D.R.I.V.E. Honours for Innovation for its battery energy storage system deployments, which enable fast charging in locations with limited grid capacity. With over 170 battery storage installations totaling 65,000 kilowatt-hours deployed, this technology expands where charging infrastructure can be installed. Shaffer Construction helps clients evaluate their electrical capacity through comprehensive electrical load studies, identifying whether battery storage or other solutions might expand their options for EV charger placement.

J.D. Power Study Shows EV Charging Reliability at Four-Year High

The 2025 U.S. Electric Vehicle Experience Public Charging Study from J.D. Power reveals that public charging reliability has reached its highest level in four years. Only 14% of EV owners reported visiting a charger without successfully completing a charge, down from 19% in 2024. This improvement reflects sustained investment in network maintenance and operations across the industry, even amid federal funding delays and shifting political landscapes. Source: J.D. Power.

Analysts attribute the reliability improvements partly to increasing utilization rates. As more EVs enter the market and charging sessions become more frequent, network operators have stronger financial incentives to maintain their equipment. Analyst Loren McDonald from Paren noted that previously, low utilization rates did not incentivize charging networks to repair chargers quickly. Now that utilization is climbing, operators recognize that downtime directly costs them revenue, creating a virtuous cycle of investment in reliability. Source: EV Charging Stations.

Improved reliability addresses one of the primary concerns prospective EV buyers cite when hesitating to make the switch. Research from the University of Washington found that negative perceptions of public charger reliability significantly reduce willingness to purchase EVs. As networks become more dependable, this barrier to adoption diminishes, accelerating the transition to electric transportation. For Los Angeles property owners, this means the EV driver population will continue growing, increasing demand for workplace, retail, and residential charging. Properties that install reliable, professionally maintained charging infrastructure meet this demand while differentiating themselves from competitors.

California Launches $111 Million in New EV Charger Incentive Programs

The California Energy Commission has launched two major incentive programs totaling $111 million to accelerate EV charging infrastructure deployment across the state. The Fast Charge California Project offers $55 million for public DC fast chargers at businesses and public sites, with incentives covering up to 100% of eligible installation costs, making it the most generous public fast charging program the state has ever offered. Commission officials described it as the biggest California Electric Vehicle Infrastructure Project ever launched. Source: California Energy Commission.

Additionally, the Communities in Charge Project makes over $56 million available specifically for multi-family residential complexes, funding Level 1 and Level 2 EV chargers at apartment buildings and condominiums. This program recognizes that many California residents live in multi-family housing and cannot install home chargers without building owner participation. By providing generous incentives to property owners, the program aims to expand charging access to renters and residents of shared housing communities. Source: CALSTART.

These programs complement utility-specific incentives still available throughout Los Angeles. LADWP offers up to $1,000 for qualified Level 2 charger purchases and installation, plus a $250 rebate for dedicated EV meter installation. Income-eligible customers participating in LADWP's Senior Citizen or Disability Lifeline programs qualify for an additional $500. The federal Alternative Fuel Vehicle Refueling Property Credit also remains available through June 30, 2026, providing up to $1,000 for charger installations (30% of costs capped at $1,000). Property owners who act while these programs remain funded can significantly reduce their installation costs. As outlined in our comprehensive guide to EV charger installation incentives, layering multiple incentive programs can make charging infrastructure remarkably affordable.

Federal EV Tax Credits End, But Charger Incentives Continue

Property owners should be aware of a significant change in the federal incentive landscape. As of October 1, 2025, the $7,500 federal tax credit for new electric vehicles and the $4,000 credit for used EVs are no longer available following passage of legislation that terminated these programs. However, the Alternative Fuel Vehicle Refueling Property Credit for EV charger installations remains in effect through June 30, 2026, providing up to $1,000 for home charger installations. Source: Coltura.

The end of federal vehicle credits may temporarily slow EV adoption rates, though California's strong state-level incentives help offset this change for state residents. Californians may still qualify for up to $14,000 in EV incentives through the Driving Clean Assistance Program or Clean Cars 4 All, which offers up to $12,000 toward an electric or plug-in hybrid vehicle plus an additional $2,000 for home charging or public charging credits for those trading in older high-emission vehicles.

For property owners, the key takeaway is that charger installation incentives remain robust even as vehicle credits have expired. The combination of California Energy Commission programs, utility rebates, and the federal charger credit creates a favorable window for EV infrastructure investment. However, some programs have already closed due to high demand, including Silicon Valley Clean Energy's charger rebate program and the Drive Clean Rebate Program. Property owners considering installations should move promptly to secure available incentives before additional programs reach their funding limits. As we detailed in our analysis of NEVI funding implications for Los Angeles, timing matters when pursuing incentive programs.

What These Developments Mean for Los Angeles Property Owners

This week's news paints an encouraging picture for property owners considering EV charging investments. EVgo's record financial performance demonstrates that charging networks are becoming profitable businesses, validating the market opportunity for property owners who install chargers to serve customers and tenants. Electrify America's successful cross-country road trip and J.D. Power's reliability data show that the quality of charging infrastructure has improved substantially, addressing one of the primary barriers to EV adoption.

California's $111 million in new incentive programs creates an exceptional opportunity for property owners to install charging infrastructure at reduced cost. The Fast Charge California Project's potential to cover 100% of installation costs for public DC fast chargers represents an unprecedented opportunity for retail and commercial properties. The Communities in Charge Project similarly makes multi-family charging installations more accessible than ever.

The convergence of improving network reliability, strong incentive availability, and growing EV adoption makes this an ideal time to invest in charging infrastructure. Properties without charging capabilities increasingly find themselves at competitive disadvantage as more residents and customers drive electric. Many homeowners also find that panel upgrades may be necessary to support EV charging alongside other electrical demands, and addressing this proactively positions properties for the electric transportation future.

Conclusion

From EVgo's record-breaking 37% revenue growth to Electrify America's 1,765-mile reliability demonstration, this week's news confirms that the EV charging industry is maturing into a dependable, profitable sector. J.D. Power data showing charging failures at a four-year low validates the investments networks have made in maintenance and operations. California's launch of $111 million in new incentive programs creates an exceptional window for property owners to install infrastructure at reduced cost, though the closure of some programs due to high demand underscores the importance of acting promptly.

Ready to explore EV charging options for your Los Angeles property? Contact Shaffer Construction, Inc. for a complimentary site assessment and expert guidance on the right charging solution for your needs.

Shaffer Construction, Inc.
325 N Larchmont Blvd. #202
Los Angeles, CA 90004
Phone: (323) 642-8509
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Website: www.shaffercon.com