General Motors shares are trading higher after the company announced it signed a partnership agreement with Hyundai to expand its EVgo Network and deploy 400 fast charging stalls. Additionally, the company announced it's in talks to buy Chinese batteries made in the U.S. through its partnership with Japan's TDK.
Portfolio Pulse from Benzinga Newsdesk
General Motors shares rise as the company partners with Hyundai to expand the EVgo Network with 400 fast charging stalls and explores buying U.S.-made Chinese batteries through a partnership with TDK.
September 12, 2024 | 4:06 pm
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General Motors shares are trading higher following a partnership with Hyundai to expand the EVgo Network with 400 fast charging stalls. GM is also in talks to purchase U.S.-made Chinese batteries through a partnership with TDK.
The partnership with Hyundai to expand the EVgo Network is a significant move for GM, enhancing its EV infrastructure and potentially increasing its market share in the EV sector. Additionally, sourcing U.S.-made Chinese batteries through TDK could improve supply chain efficiency and cost-effectiveness, positively impacting GM's operations.
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