Tesla Competitors Make Move: BMW, GM, Honda, And More Join Forces To Challenge Elon Musk's EV Charger Dominance
Portfolio Pulse from Anan Ashraf
Seven automakers including BMW Group, General Motors, Honda, Hyundai, Kia, Mercedes-Benz Group, and Stellantis NV are joining forces to develop a new charging network joint venture to compete with Tesla's supercharger network. They plan to install at least 30,000 high-powered charge points across the country, offering both Combined Charging System and Tesla’s North American Charging Standard connectors. The joint venture is expected to be established this year, with the first stations opening in the summer of 2024.
July 27, 2023 | 6:04 am
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POSITIVE IMPACT
BMW Group is part of the joint venture to develop a new charging network to compete with Tesla. This could potentially increase the attractiveness of their EVs.
The joint venture could potentially increase the attractiveness of BMW's EVs by providing more charging options for customers.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
General Motors is part of the joint venture to develop a new charging network to compete with Tesla. This could potentially increase the attractiveness of their EVs.
The joint venture could potentially increase the attractiveness of GM's EVs by providing more charging options for customers.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Honda is part of the joint venture to develop a new charging network to compete with Tesla. This could potentially increase the attractiveness of their EVs.
The joint venture could potentially increase the attractiveness of Honda's EVs by providing more charging options for customers.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Hyundai is part of the joint venture to develop a new charging network to compete with Tesla. This could potentially increase the attractiveness of their EVs.
The joint venture could potentially increase the attractiveness of Hyundai's EVs by providing more charging options for customers.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Mercedes-Benz Group is part of the joint venture to develop a new charging network to compete with Tesla. This could potentially increase the attractiveness of their EVs.
The joint venture could potentially increase the attractiveness of Mercedes-Benz's EVs by providing more charging options for customers.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Stellantis NV is part of the joint venture to develop a new charging network to compete with Tesla. This could potentially increase the attractiveness of their EVs.
The joint venture could potentially increase the attractiveness of Stellantis's EVs by providing more charging options for customers.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla's dominance in the EV charging network could be challenged by the joint venture of seven automakers. This could potentially affect Tesla's competitive advantage.
The joint venture of seven automakers could potentially challenge Tesla's dominance in the EV charging network, which could affect Tesla's competitive advantage.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100