Tesla's GM Deal is Good for EVs and Bad for EV Charger Firms

Nov 06, 2023

Companies including EVgo face an existential crisis as more agreements are struck between the big automakers.

Shock to the system.

Liam Denning

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The frenemy of my enemy is my friend, as the old saying goes. Things are getting complicated in the exciting world of electric vehicle charging standards — especially for companies such as EVgo Inc. that want to make a living from it.

For makers of the EVs, on the other hand, things are actually getting a bit simpler. General Motors Co. has swiftly followed its rival Ford Motor Co. in striking a deal with Tesla Inc. to let GM-branded vehicles use Tesla's fast-charging network. As before, GM's existing EV owners will need an adapter to use Tesla's type of plug — known as the North American Charging Standard, or NACS — and future GM models will come with that type of socket as standard.