One more official competitor to use Tesla’s fast charging system, the electric vehicle industry is about to welcome a big turning point

Recently, General Motors said that it will join hands with Tesla and be allowed to use Tesla’s fast charging station (supercharger), following in the footsteps of Ford Motor. With the participation of GM, Tesla’s charging standard is expected to become the new standard of the electric vehicle industry in the US.

GM CEO Mary Barra officially announced the news on Twitter on June 8 and said GM electric vehicle owners will have access to 12,000 Tesla fast charging ports.

“This partnership is an important part of our strategy and an important next step in rapidly expanding access to fast chargers for customers,” Ms. Barra said in a statement. “Not only will it make the transition to EVs more seamless for our customers, but it can also help move the industry towards a single charging standard in North America.”

Immediately after the news, shares of GM rose more than 5% and Tesla also gained 2.7%.

Similar to Ford, Tesla’s charging network will expand to GM electric vehicles starting in 2024. Current GM vehicles with CCS charging ports will need an adapter to be able to use it. Starting in 2025, GM will manufacture its electric vehicles with Tesla’s NACS standard charging port instead of the previous CCS port.

Shares of charging network operators that compete with Tesla fell sharply on the news, with ChargePoint Holdings down 0.4% and EVgo down 3%.

In February 2023, Tesla announced it would open up part of its US electric vehicle charging network to rival manufacturers as part of a $7.5 billion US subsidy package to expand the use of electric vehicles. use electric vehicles and cut carbon emissions.

US President Biden wrote on Twitter that Tesla’s plan to open up a large portion of Tesla’s network to all drivers is a big deal and will make a big difference to the electric vehicle market in the US.

In response, Tesla CEO Elon Musk wrote: “Tesla is happy to support other electric vehicles through our fast-charging network.”

Expanding the network could expand capital and revenue for Tesla, analysts say, but could also erode the brand’s exclusivity and make it difficult for the automaker to keep up. network management.

According to Reuters