Major automakers team up for EV charging, challenge Tesla

Industry

Published: 27 Jul. 2023, 15:59

Major automakers team up for EV charging, challenge Tesla

Tesla EVs are being charged up at a Tesla Supercharger station in California on Feb. 27. [EPA/YONHAP]

Hyundai Motor is partnering with six major global automakers for a massive charging network in North America to counter Tesla’s Superchargers.

The Korean automaker said on Wednesday it will establish a joint venture with the six automakers to install at least 30,000 chargers around the North American region, mostly in metropolitan areas and along major highways.

Participating in the joint venture are Hyundai Motor, Kia, BMW, General Motors, Honda, Mercedes-Benz and Stellantis.

The investment size was not revealed but is expected to be at least $1 billion, according to Korean media reports.

The new chargers can be used by all battery-powered electric vehicles from any automaker using the Combined Charging System (CCS), which major U.S. automakers use, and North American Charging Standard (NACS), the Tesla plug.

The first chargers are expected to become available in the United States by the summer of 2024 and in Canada at a later stage, Hyundai said. The venture's formation is expected to be finalized within this year.

Tesla's EV charging connector is pictured at a charging station in Anaheim, California on June 9. Recently, Ford, General Motors, Volvo Cars and Rivian announced their adoption of Tesla's North American Charging Standard charging plug. [AP/YONHAP]

"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," Hyundai Motor CEO Chang Jae-hoon said.

The unusual coalition of competitors is looking to expand its charging network as Tesla rapidly expands its Superchargers' market influence.

Mercedes and General Motors recently announced their adoption of Tesla's NACS charging plugs, while the other five consortium members use CCS. The two are not compatible.

Tesla owns around 22,000 Superchargers in the United States and controls 60 percent of the U.S. fast charger network as of March 2023, according to the U.S. Energy Department. It is lighter and faster than most others with a maximum of 250 kilowatts of charging power, allowing drivers to charge their cars up to 200 miles in 15 minutes.

Chang also hinted that it could embrace Tesla’s NACS after a thorough review of customer demand.

BY SARAH CHEA [chea.sarah@joongang.co.kr]