Seven Automakers Unite to Create a Leading High-Powered Charging Network Across North America

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Seven of the world’s leading automakers – BMW Group, General Motors,
Honda, Hyundai, Kia, Mercedes-Benz Group, Stellantis NV – are creating
a joint venture to accelerate the transition to electric vehicles in
North America, by making EV charging more convenient, accessible and reliable.

The joint venture will include the development of a new, high-powered
charging network with at least 30,000 chargers to make zero-emission
driving even more attractive for millions of customers.

With the generational investments in public charging being
implemented on the Federal and State level, the joint venture will
leverage public and private funds to accelerate the installation of
high-powered charging for customers. The new charging stations will be
accessible to all battery-powered electric vehicles from any automaker
using Combined Charging System (CCS) or North American Charging
Standard (NACS) and are expected to meet or exceed the spirit and
requirements of the U.S. National Electric Vehicle Infrastructure
(NEVI) program.

The joint venture aims to become the leading network of reliable
high-powered charging stations in North America.

The joint venture is expected to be established this year, subject to
customary closing conditions and regulatory approvals.

The first stations are expected to open in the United States in the
summer of 2024 and in Canada at a later stage. Each site will be
equipped with multiple high-powered DC chargers, making long-distance
journeys easier for customers. In line with the sustainability
strategies of all seven automakers, the joint venture intends to power
the charging network solely by renewable energy.

Elevated Customer Experience

The new high-powered charging network will elevate the entire EV
experience and drive EV adoption.

The network will provide a seamless, vehicle integrated,
best-in-class charging experience, based on renewable energy and
supported by the quality, reliability, and resources of world-leading automakers.

Focused on customer comfort and charging ease, the stations will be
in convenient locations offering canopies wherever possible and
amenities such as restrooms, food service and retail operations either
nearby or within the same complex. A select number of flagship
stations will be equipped with additional amenities, delivering a
premier experience designed to showcase the future of charging.

Initial plans call for the deployment of charging stations in
metropolitan areas and along major highways, including connecting
corridors and vacation routes, aiming to offer a charging station
wherever people may choose to live, work and travel.

The functions and services of the network will allow for seamless
integration with participating automakers’ in-vehicle and in-app
experiences, including reservations, intelligent route planning and
navigation, payment applications, transparent energy management and
more. In addition, the network will leverage Plug & Charge
technology to further enhance the customer experience.

An Open Network to Drive Electric Vehicle Growth

As more electric vehicles are introduced and the rate of consumer
adoption increases, the demand for fast and reliable public charging
also grows in parallel.

According to the U.S. Department of Energy, as of July 2023, there
are 32,000 publicly available DC fast chargers in the United States
for use by 2.3 million electric vehicles, a ratio of 72 vehicles per
charger. The NREL (National Renewable Energy Laboratory) estimates
that 182,000 DC fast chargers will be needed to support 30-42 million
plug-in vehicles expected on the road by 2030.

With U.S. electric vehicle sales expected to exceed 50% of total U.S.
sales by 2030, the expansion of reliable charging infrastructure will
become even more critical to widespread electric vehicle adoption.

The creation of a best-in-class charging network will ensure that the
EV infrastructure will support current and projected EV sales and will
foster the adoption of electric vehicles.

Comments from JV Founding Partners

BMW Group CEO Oliver Zipse: “North America is one of the world’s most
important car markets – with the potential to be a leader in
electromobility. Accessibility to high-speed charging is one of the
key enablers to accelerate this transition. Therefore, seven
automakers are forming this joint venture with the goal of creating a
positive charging experience for EV consumers. The BMW Group is proud
to be among the founders.”

GM CEO Mary Barra: “GM’s commitment to an all-electric future is
focused not only on delivering EVs our customers love, but investing
in charging and working across the industry to make it more
accessible. The better experience people have, the faster EV adoption
will grow.”

Honda CEO Toshihiro Mibe: “The creation of EV charging services is an
opportunity for automakers to produce excellent user experiences by
providing complete, convenient and sustainable solutions for our
customers. Toward that objective, this joint venture will be a
critical step in accelerating EV adoption across the U.S. and Canada
and supporting our efforts to achieve carbon neutrality.”

Hyundai CEO Jaehoon Chang: “Hyundai’s investment in this project
aligns with our ‘Progress for Humanity’ vision in making sustainable
transportation more accessible. Hyundai’s expertise in electrification
will help redefine the charging landscape and we look forward to
working with our other shareholders as we create this expansive
high-powered charging network.”

Kia CEO Ho Sung Song: “Kia’s engagement and investment in this
high-powered charging joint venture is set to increase charging access
and convenience to current and future drivers and therefore accelerate
the transition to EVs across North America. Kia is proud to be an
important part of this joint venture with other reputable automakers
as we embark on a journey towards seamless charging experiences for
our customers and further strengthening Kia’s brand identity in the EV market.”

Mercedes-Benz Group CEO Ola Källenius: “The fight against climate
change is the greatest challenge of our time. What we need now is
speed – across political, social and corporate boundaries. To
accelerate the shift to electric vehicles, we’re in favor of anything
that makes life easier for our customers. Charging is an inseparable
part of the EV-experience, and this network will be another step to
make it as convenient as possible.”

Stellantis CEO Carlos Tavares: “We intend to exceed customer
expectations by creating more opportunities for a seamless charging
experience given the significant growth expected in the market. We
believe that a charging network at scale is vital to protecting
freedom of mobility for all, especially as we work to achieve our
ambitious carbon neutrality plan. A strong charging network should be
available for all – under the same conditions – and be built together
with a win-win spirit. I want to thank each colleague involved, as it
is a milestone example of our collective intelligence to listen and
serve our customers.”

Contacts:

BMW Group: Mariella Kapsaskis (mariella.kapsaskis@bmwna.com)

General Motors: Sanaz Marbley (sanaz.marbley@gm.com)

Honda: Chris Martin (chris_martin@na.honda.com)

Hyundai: Miles Johnson (milesjohnson@hmausa.com)

Kia: James Bell (jbell@kiausa.com)

Mercedes-Benz Group: Melinda Mernovage (melinda.mernovage@mercedes-benz.com)

Stellantis NV: Shawn Morgan (shawn.morgan@stellantis.com)

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