Shulou(Shulou.com)11/24 Report--

CTOnews.com, July 26 (Reuters)-Seven auto giants from Japan, South Korea, Europe and North America announced today that they are forming a new company to provide electric car charging services in the United States to challenge Tesla's North American charging standard NACS, and try to take advantage of US government subsidies.

▲ Touyuan Pexels, which includes General Motors, Stellantis, Hyundai, Kia, Honda, BMW and Mercedes-Benz, accounts for about half of U.S. car sales but has a small share of the electric car market dominated by Tesla.

The unusual competitor alliance said the new joint venture aims to become the leading provider of fast charging services in North America, with the goal of launching 30,000 charging devices along major highways and US cities.

The auto giants 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 those outside the auto industry. The name of the joint venture has not yet been announced.

Tesla currently accounts for more than 60% of the American electric car market and has the largest fast charging network in the United States, including nearly 18000 super chargers. Tesla said earlier this year that it would open its partial charging network to rival brands of electric vehicles to qualify for part of a $7.5 billion federal subsidy to expand the use of electric vehicles.

CTOnews.com previously reported that General Motors, Mercedes-Benz and other companies have signed agreements to adopt charging technology developed by Tesla from 2025. Other carmakers in the alliance-Stellantis, Hyundai, Kia, Honda and BMW-have not committed to Tesla's North American charging standard (NACS) technology, but have product plans that rely on their competitors' joint charging systems (CCS).

"in the same market environment, a strong charging network should be open to everyone and build together in a win-win spirit," Stellantis CEO Carlos Tavares said in a statement. The new charging company will support both CCS and NACS standards.

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