Seven major auto companies plan to jointly invest at least $1 billion in the United States to build tens of thousands of charging stations

Seven major auto companies will invest $1 billion in the US to construct numerous charging stations

【Phoneauto News】Phoneauto has learned from foreign media that seven major automakers plan to jointly invest at least $1 billion in the United States to build tens of thousands of charging stations.

According to reports, sources said that a group of large automaker associations is planning to jointly invest in the construction of tens of thousands of electric vehicle charging stations in the United States to alleviate the shortage of charging stations, which has hindered many consumers from choosing electric vehicles. It was also revealed that companies such as BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, and Stellantis plan to jointly invest at least $1 billion to establish a joint venture company to build charging stations. The investment group’s goal is to add approximately 30,000 fast charging stations in urban and highway areas over the next few years. Does this model look familiar? That’s right, the joint venture company is modeled after Ionity, a similar charging company in Europe that was established in 2017 with investments from multiple automakers.

It is reported that the new company created by the seven automakers plans to install a combination of different types of charging stations – Tesla’s charging stations are known as the North American Charging Standard (NACS), while other automakers use the Combined Charging System (CCS). Some automotive executives and analysts believe that because many automakers are now switching to Tesla’s standard charging ports, this hardware is likely to become an industry standard. However, CCS chargers may still be used in the United States for 10 years or more, as hundreds of thousands of electric vehicles are already using this hardware, with more to come in the future.

Phoneauto has also learned that the seven automakers’ investment in the new charging joint venture company will be made in equal amounts, and they hope that other automakers will join and invest in the joint venture company as well.

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