Seven North American automakers are partnering to build an electric vehicle (EV) charging network that would challenge Tesla’s market dominance and nearly double the number of fast-charging stations in the United States and Canada.
General Motors, BMW, Honda, Hyundai, Kia, Mercedes, and Stellantis are all slated to invest in a multi-billion-dollar project to build a network of 30,000 plugs in urban areas and along popular travel routes. While there is no project completion date yet, the first set of plugs is predicted to be online by Summer 2024.
“This joint venture will be a critical step in accelerating EV adoption across the U.S. and Canada,” said Toshihiro Mibe, Honda CEO.
According to the U.S. Department of Energy, there are currently just under 8,700 direct-current fast-charging stations and approximately 36,000 charging plugs across North America. Of these, Tesla can be credited for 2,050 of the stations and 22,000 of the plugs. Despite this, there are still concerns from consumers about utilizing EVs for long-distance travel.
The seven automakers not only hope to compete with Tesla, but resolve consumer concerns over charging convenience. The new charging network will be available to all EV owners and will feature connectors for both Tesla’s North American Charging Standard plugs and the Combined Charging System plugs used by other automakers. The fast chargers will also be able to provide an 80% charge in as little as 20 minutes.