Auto Companies Form JV to Create Electric Vehicle Charging Network

NATIONAL REPORT — Seven automakers including BMW Group, General Motors Corp., Honda Motors Corp., Hyundai Corp., Kia, Mercedes-Benz Group and Stellantis NV created a joint venture to accelerate the transition to electric vehicles (EVs) in North America.

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The venture will include the development of a new, high-powered charging network with at least 30,000 chargers, and is intended to make EV charging more convenient, accessible and reliable for potential drivers.

"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," said Toshihiro Mibe, Honda CEO. "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."

The partnership intends to leverage public and private funds to accelerate the installation of high-powered network, with stations accessible to all battery-powered electric vehicles from any automaker using combined charging system or North American charging standard. The network is expected to meet or exceed the spirit and requirements of the U.S. National Electric Vehicle Infrastructure program.

Station plans include placing them at 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.

Initial deployment of the stations will be in metropolitan areas and along major highways, including connecting corridors and vacation routes. The network will also allow integration with participating automakers' in-vehicle and in-app experiences, including reservations, intelligent route planning and navigation, payment applications, transparent energy management and more. 

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The first stations are expected to open in the United States in the summer of 2024 and in Canada at a later date. Each site will be equipped with multiple high-powered DC chargers, which should make 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.

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