General Motors (GM) shares are experiencing a boost today, driven by the company’s announcement that its customers will gain access to over 17,800 Tesla, Inc. (TSLA) Superchargers. This access will be enabled through a GM-approved NACS DC adapter, marking a significant step towards expanding GM’s EV charging network.
This strategic move brings the total number of public Level 2 and DC fast chargers available to GM customers in North America to over 231,800. This initiative aims to accelerate the availability of fast and convenient charging options for current and future electric vehicle (EV) drivers.
The number of charging stations is expected to grow as GM continues to expand its charging infrastructure through collaborations with various partners.
The NACS DC adapters will be initially available to U.S. customers, with Canadian availability following later this year.
Wade Sheffer, vice president of [position not specified], stated, “GM’s ongoing efforts to help accelerate the expansion of public charging infrastructure is an integral part of our commitment to an all-electric future.” He continued, “Enabling access to even more publicly available fast chargers represents yet another way GM is focused on further improving the customer experience and making the transition to electric more seamless.”
This month, General Motors further strengthened its partnership with EVgo Inc. (EVGO) by agreeing to install 400 fast-charging stalls at strategic locations in major U.S. metropolitan areas.
In other related news, Unifor, a Canadian labor union, has reached a tentative collective agreement with General Motors for over 1,300 of its members at the company’s CAMI Assembly and Battery Assembly facilities in Ingersoll, Ontario.
According to Benzinga Pro, GM stock has experienced a remarkable climb, gaining over 45% in the past year. Investors can gain exposure to the stock through various exchange-traded funds (ETFs), including the First Trust Nasdaq Transportation ETF (FTXR) and the Invesco S&P 500 Pure Value ETF (RPV).
As of Wednesday’s last check, GM shares are up 2.17% at $48.55.
The expansion of GM’s EV charging network, combined with its continued focus on electric vehicle technology, positions the company as a key player in the evolving automotive landscape. This strategic move has resonated positively with investors, contributing to the recent rise in GM stock.
