General Motors will adapt its electric vehicles to Tesla’s Superchargers, following Ford Motor’s lead and all but ensuring it will become an industry standard in the US.
GM Chief Executive Officer Mary Barra broke her seven-month silence on Twitter to announce the news with Tesla CEO Elon Musk on Twitter Spaces Thursday, saying GM EVs will gain access to 12,000 Superchargers.
“This collaboration is a key part of our strategy and an important next step in quickly expanding access to fast chargers for our customers,” Barra said in a statement. “Not only will it help make the transition to electric vehicles more seamless for our customers, but it could help move the industry toward a single North American charging standard.”
GM shares rose more than 5% in extended trading in New York. Tesla also climbed 2.7% on the news.
Tesla’s network will be open to GM EV drivers starting in 2024 and require an adapter. Starting in 2025, GM will build its electric vehicles with a port for direct access to Tesla Superchargers.
Ford CEO Jim Farley went on Twitter Spaces last month and made a similar announcement, moving the auto industry toward a single charging standard.
Shares of charging network operators that compete with Tesla’s dropped sharply on the news, with ChargePoint Holdings down 0.4% and EVgo sliding 3%.