Badar Khan to succeed Cathy Zoi as EVgo CEO

EVgo’s Board of Directors has appointed Badar Khan to succeed Cathy Zoi as Chief Executive Officer, effective on 9 November 2023. Zoi will retire as CEO and from the Board following an impactful career.

Since EVgo went public in 2021, Cathy Zoi oversaw a 957% increase in quarterly revenue. Zoi did not disclose her reasons for retiring but will serve as an advisor and “work closely” with Khan through the end of 2023 to guarantee a “smooth transition,” reads the statement.

“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,” says Zoi. “I set out to build a strong business yielding robust growth in charger deployments, network utilization, and company revenues, and as a team, we have accomplished that.”

The incoming CEO Badar Khan has served on the EVgo Board of Directors since 2022. The company describes the executive as an “industry veteran” with 25 years of experience. From 2017 to 2022, Khan worked for National Grid, one of the largest investor-owned utilities in the world. Most recently, he was President of National Grid USA and previously President of National Grid Ventures.

David Nanus, Chair of the Board of Directors of EVgo, “Having worked closely with Badar on the EVgo Board, I know that he possesses a holistic understanding of the dynamics of our business and knows what it takes to win in the marketplace. 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 added he expects Khan to take the company to the next level.

As for the present, EVgo and General Motors delivered an update on their cooperation to expand fast-charging infrastructure in the US. Launched in 2020 and expanded upon in 2021, they target installing 3,250 DC charging stations in 52 major metro markets through 2025. As of today, they surpassed 1,000 fast-charging stalls.

When announced in 2020, the deal was to triple EVgo’s network. The company currently operates 900 fast-charging sites in 60 metropolitan areas and 30 states. More DC fast charging locations are coming to the US through EVgo eXtend, its white-label service offering. This is also where the rollout with GM has landed reportedly. Although the HPC stations will be operated by EVgo in its ‘eXtend’ offering, there is to be co-branding with the ‘Pilot Flying J’ and ‘Ultium Charge 360’ brands by General Motors.

As reported, EVgo is also among the CPOs planning to provide Tesla NACS plugs nationwide. General Motors was among the first carmakers to jump on the Tesla connector.

businesswire.com (leadership succession), evgo.com (GM cooperation)