Big Automakers Plan Thousands of EV Chargers in $1 Billion U.S. Push
A group of major automakers is planning a joint investment to build thousands of electric-vehicle chargers in the U.S., people familiar with the plan said, a bid to ease a shortage of charging spots that deters many consumers from choosing EVs. The companies—BMW, General Motors, Honda Motor, Hyundai Motor, Kia, Mercedes-Benz and Jeep maker Stellantis—plan to collectively invest at least $1 billion in a joint-venture company that will build out charging stations, the people said. The group is targeting the addition of around 30,000 fast chargers in urban and highway areas over several years.
The joint investment is modeled after a similar charging company in Europe, Ionity, that was formed in 2017, funded by many of the same automakers. Those automakers and others are rushing to develop more electric cars, and have laid out plans to convert much of their vehicle lineups to EVs in coming years. A lack of charging stations is cited by U.S.
consumers as a top concern keeping them from switching to an electric vehicle, surveys have shown. Carmakers in recent weeks have disclosed a string of moves to give current and future EV customers more places to power up. General Motors, Mercedes, Ford Motor, Nissan Motor and Rivian Automotive have made deals with EV leader Tesla for partial access to the company’s U.S.
system of about 22,000 fast chargers, known as its Supercharger network. Those automakers also plan to switch to Tesla-style charging hardware on their EVs within a few years, from a different format used today by nearly all major car companies. The new company being created by the seven automakers plans to install a combination of each type of charger—Tesla’s, known as the North American Charging Standard, or NACS; and
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