Item 2. Properties
Item 2. Properties.
EVgo leases space for its principal executive offices as well as a testing facility. EVgo’s primary office is located at 11835 West Olympic Boulevard, Suite 900E, Los Angeles, California 90064. EVgo’s testing facility is located at 138 Sheldon Street, El Segundo, California 90245.
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In addition, the Company has entered into agreements with Site Hosts, which allow the Company to operate the charging stations on the Site Hosts’ property and which EVgo considers to be material to EVgo’s operations. The agreements with the Site Hosts, which are deemed to be operating leases, are located throughout the geographical areas in which EVgo operates, may include one or more provisions to compensate the Site Hosts, such as fixed fees, cost reimbursements, revenue sharing and payments per customer charge. The expenses related to these agreements are recorded in cost of sales for sites that are operational. Expenses for sites that are not operational are charged to general and administrative expenses.
The Company has determined that it operates in one operating and reportable segment and, as such, the leases and agreements with the Site Hosts are attributable to that segment. EVgo believes all the properties that it currently occupies are suitable for their intended uses. EVgo believes that its current facilities are sufficient to conduct EVgo’s operations. However, EVgo continues to evaluate the purchase or lease of additional properties.
Item 3. Legal Proceedings.
From time to time, EVgo may be a party to legal proceedings or subject to claims arising in the ordinary course of business. EVgo is not currently a party to any material legal proceedings.
Item 4. Mine Safety Disclosures.
Not applicable.
PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.