General Motors will be joining Ford in adopting Tesla's North American charging plug standard and will give GM electric vehicle buyers access to Tesla's Supercharger network under an agreement announced on Thursday.
The same decision by Ford to support Tesla's charging plug standard means three of the top EV vendors in the North American market have now agreed on a standard for charging hardware. The deal was announced by GM CEO Mary Barra and Tesla's chief executive, Elon Musk.
Investors praised the deal, and the possibility of one charging hardware standard for the North American market. After the bell, GM shares rose more than 4 per cent and Tesla shares rose 4 per cent.
The total of U.S. EV sales is about 70 per cent of Tesla, GM and Ford. Their decisions to adopt Tesla's charging connectors could drive other automakers and EV charging companies to adopt the same standard, and end confusion over public charging access that industry executives see as a barrier to wider consumer adoption of electric vehicles.
I think this is just going to be a fundamentally great thing for the advancement of electric vehicles, he said in a Twitter Spaces conversation with Barra.
I think it all just got a little better, he said.
The agreement was reversal for GM, which had previously endorsed the rival CCS standard.
The alliance between Tesla, GM and Ford put pressure on other automakers and independent charging network operators that had adopted the CCS standard.
GM said it will provide EVs with connectors based on Tesla's North American charging standard design starting in 2025. In the next year, current GM EV owners will be able to use 12,000 Tesla fast chargers in North America, and adapters will be made available.
Musk said Tesla is not going to do anything to prefer Teslas as more rival brands access the Supercharger network. It will be an even playing field, '' said J. D. Willard, a professor at the University of California, who emphasised the importance of the electric vehicle revolution. Ford CEO Jim Farley had a similar discussion with Musk on Twitter last month announcing the No. A U.S. automaker has reached an agreement with Tesla to allow electric vehicle owners to access more than 12,000 Tesla Superchargers in North America in early 2024.