NEW ELECTRIC VEHICLE CHARGING NETWORK BEING BUILT BY MAJOR AUTOMAKERS COULD LURE MORE BUYERS TO EVS

The announcement Wednesday that seven major automakers are joining to build a large North American electric vehicle charging network should pull people off the sidelines to at least consider shifting away from gas-powered vehicles

That’s how auto industry analysts see the move by General Motors, BMW, Honda, Hyundai, Kia, Mercedes and Stellantis to build a network of fast-chargers that will rival Tesla’s and will nearly double the number of quick-charging plugs in the U.S. and Canada.

“Anything that gets more — and especially more reliable chargers — out there will be a benefit to anybody considering EVs,” said Sam Abuelsamid, an e-mobility analyst for Guidehouse Insights. “It should help sway some people who were on the fence about buying an EV.”

The companies said they will share in a multibillion-dollar investment to build “high power” charging stations with at least 30,000 plugs in urban areas and along travel corridors by 2030.

The dramatic move is intended to allay fears that chargers won’t be available for long-distance travel.

The companies wouldn’t disclose the exact number of charging stations or financial details of the joint venture they’re forming to put the network in place. They said the first of the U.S. chargers will be ready by next summer.

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The automakers said in a joint statement Wednesday that they want to build the “leading network” of reliable high-powered charging stations in North America.

“The parties have agreed not to disclose specific investment numbers at this time, but the seven founding automakers intend to work as equals to ensure the success of the joint venture,” the companies said in a written statement answering some questions.