Risk Factors Update Summary
- EVgo must install a substantial number of chargers under agreements with Pilot Company and GM. Failure may result in significant liquidated damages.
- The number of patents held increased from 16 to 23, with 10 pending applications.
- EVgo committed to purchasing 600 Delta chargers, requiring full payment within 60 days of receipt.
- Failure to protect and enforce technology and IP could significantly impact financial results.
- EVgo relies on a limited number of vendors for over 76.9% of its total charging equipment.
- Transition to NACS charging standard may require significant time and expense, impacting revenues.
- Undisclosed defects in hardware or software could impede market acceptance and harm reputation.
- EVgo faces legal risks related to product liabilities and potential malfunctions of charging stations.
- EVgo identified material weaknesses in internal financial reporting controls, requiring remediation.
- Compliance with evolving privacy laws may affect EVgo's ability to process data effectively.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1821159&owner=exclude
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