General Motors, BMW, Honda, Hyundai, Kia, Mercedes and Stellantis have joined forces to build a new electric vehicle (EV) network of fast-chargers, reported Associated Press News. The new network is expected to rival Tesla’s and will almost double the amount of charging plugs across the U.S. and Canada.
The multibillion-dollar investment will provide at least 30,000 plugs in urban areas and along travel corridors by 2030.
The offering intends to reduce EV range anxiety by giving drivers more options when it comes to charging their vehicles, making long-distance travel more accessible for EV owners.
The companies have noted, however, that they are unable to definitively state the exact number of charging stations or the specific financial details of the investment. They have confirmed that the first chargers in the U.S. will be available summer 2024.
Currently in the U.S. and Canada, there are just under 8,700 direct-current fast charging stations, with more than 36,000 charging plugs available, according to the U.S. Department of Energy. It is expected that this number needs to be much higher in order for EVs to be a viable option in the future.
The National Renewable Energy Laboratory estimated that 182,000 fast chargers will be needed by 2030.
The new network is expected to implement 10 to 20 charging plugs per station, which means there would be a minimum of 1,500 stations and a maximum of about 3,000, reported the Associated Press.