:A group of major automakers on Wednesday said they were forming a new company to provide electric vehicle charging in the United States, in a challenge to Tesla and a bid to take advantage of Biden administration subsidies.
The automakers did not specify how much they would invest individually or collectively, but said they would be open to additional investment or participation from other companies, including outside the auto industry. A name for the venture was not announced. There are more than 30,000 fast-charging machines around the nation. They can cost anywhere from less than $100,000 to more than $200,000 for the most powerful versions.
Tesla's lead in building out a network of chargers has given it sway in setting the standard for how future EVs will connect and power up, something smaller charging companies and other EV makers have viewed with concern. The other automakers – Stellantis, Hyundai, Honda and BMW – have not committed to the Tesla technology known as the North American Charging Standard and have product plans that rely on a rival known as the Combined Charging System ."A strong charging network should be available for all – under the same conditions – and be built together with a win-win spirit," Stellantis CEO Carlos Tavares said in a statement.
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