Photo credit: www.investopedia.com

ChargePoint and General Motors Collaborate on New EV Chargers

ChargePoint and General Motors (GM) have announced a significant partnership aimed at expanding electric vehicle (EV) charging infrastructure across the United States. The companies revealed plans to manufacture and establish up to 500 new charging stations, which will carry the branding of GM Energy.

These new chargers are set to be strategically positioned in various locations throughout the country, catering to the growing demand for EV charging facilities. According to the companies, the chargers are expected to be made available to the public by the end of next year.

Expansion of ‘Ultra-Fast Charging’ Options

Wade Sheffer, Vice President at GM Energy, commented on the initiative, emphasizing the importance of enhancing charging options for consumers. “Continuing to provide customers with better charging options helps to remove barriers to EV adoption and improve the ownership experience,” he stated. Sheffer added that the availability of ultra-fast charging and advanced technology in these stations should excite both current EV drivers and those considering making the switch.

In a notable feature of this new infrastructure, the chargers will be equipped with two types of charging ports, one of which includes the North American Charging Standard (NACS) developed by Tesla. This compatibility will benefit a wider range of electric vehicles, eliminating the need for additional adapters that have become a concern for some EV users due to Tesla’s slower pace in providing them following recent partnerships.

Following the announcement of this collaboration, both ChargePoint and GM experienced fluctuations in their stock prices. Initially, there was a rise in share prices, but they eventually leveled off, with ChargePoint closing at $1.16 and GM settling at $49.99, marking a 1% decrease for the latter.

Source
www.investopedia.com