Wednesday, July 26, 2023

"7 major automakers plan new EV charging network to rival Tesla's"

In June there was a "tell" something was up when Stellantis demurred on joining the Tesla protocol, which I was too dumb to appreciate.

Stellantis by the way seems to be firing on all cylinders, errrr...cathodes and anodes.
(gonna need a new idiom)

From Yahoo Finance, July 26:

BMW, GM, Honda, Mercedes, and others are investing in the joint venture.

While several automakers have signed on to Tesla's (TSLA) Supercharger network, it seems many of them are still looking to blaze another path.

Seven multinational automakers — BMW (BMWYY), GM (GM), Honda, (HMC), Hyundai (HYMTF), Kia, Mercedes-Benz Group (MBGAF), and Stellantis (STLA) — announced on Wednesday that they will form a new charging network that they say will "significantly expand access to high-powered charging" in North America.

The joint venture, unnamed at this point, intends to install at least 30,000 "high-powered" charge plugs across North America, with the first stations set to open in the summer of 2024. The Wall Street Journal reported that the automakers collectively intend to spend at least $1 billion to fund the joint venture.

Most interestingly, the group says the new network will allow any battery-powered electric vehicles from any automaker, as long as the vehicle uses the Combined Charging System (CCS) or Tesla's North American Charging Standard (NACS). It is unclear yet whether the charging stations will natively support Tesla's NACS standard or require the use of an adapter.

Two of the automakers — GM and Mercedes — currently have partnership deals with Tesla to incorporate the NACS plug in their North American vehicles in 2025 and to have access to the Supercharger network next year. Hyundai and its sister brand Kia have been rumored to be discussing a similar deal with Tesla....