BMW, GM And Other Automakers Pool $1B Towards EV Charging Venture For US
Portfolio Pulse from Anusuya Lahiri
Major automakers including BMW, GM, Honda, Hyundai, Kia, Mercedes Benz, and Stellantis are planning to invest at least $1 billion in a joint venture to build thousands of EV chargers in the US. The group aims to add around 30,000 fast chargers in urban and highway areas over several years. The investment model mirrors Europe's Ionity charging company, formed in 2017 with funding from many of the same automakers. Some automakers, like GM, Mercedes, Ford, Nissan, and Rivian, have deals with Tesla for partial access to its Supercharger network.
July 26, 2023 | 2:58 pm
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BMW is part of the group of automakers investing in the EV charging venture in the US.
The investment in the EV charging infrastructure is a strategic move for BMW as it will facilitate the adoption of EVs, potentially boosting BMW's EV sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
GM is part of the group of automakers investing in the EV charging venture in the US.
The investment in the EV charging infrastructure is a strategic move for GM as it will facilitate the adoption of EVs, potentially boosting GM's EV sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Honda is part of the group of automakers investing in the EV charging venture in the US.
The investment in the EV charging infrastructure is a strategic move for Honda as it will facilitate the adoption of EVs, potentially boosting Honda's EV sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Hyundai is part of the group of automakers investing in the EV charging venture in the US.
The investment in the EV charging infrastructure is a strategic move for Hyundai as it will facilitate the adoption of EVs, potentially boosting Hyundai's EV sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Mercedes Benz is part of the group of automakers investing in the EV charging venture in the US.
The investment in the EV charging infrastructure is a strategic move for Mercedes Benz as it will facilitate the adoption of EVs, potentially boosting Mercedes Benz's EV sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Stellantis is part of the group of automakers investing in the EV charging venture in the US.
The investment in the EV charging infrastructure is a strategic move for Stellantis as it will facilitate the adoption of EVs, potentially boosting Stellantis's EV sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80