(News Bulletin 247) – GM signs one of the strongest rises in the S&P 500 on Friday on the New York Stock Exchange, after the announcement of a partnership with Tesla, which will give it access to its network of ‘superchargers ‘.
The automotive group announced last night after the closing that the owners of its electric vehicles would have access, from the beginning of 2024, to the 12,000 charging stations that Tesla has in North America.
Initially, users will have to use a GM brand adapter, the ‘NCAS’ standard designed by Tesla not being compatible with the ‘CCS’ standard so far favored by the manufacturer.
From 2025, however, GM models will be equipped with a ‘NACS’ port.
‘The partnership (…) shows the growing appetite for the NACS standard, which shows a greater market share’, underline the BofA analysts.
At Wedbush, it is emphasized that the agreement will allow GM to extend its network of charging stations, which today stands at 134,000 units, in particular thanks to the ‘Ultium Charge 360’ system.
“This is a smart partnership from GM and its boss Mary Barra as the Detroit group tries to lay the foundations for a successful transformation to electrification in the decade to come.” emphasizes the design office.
A little less than an hour after opening, GM shares gained 3.6%, while the S&P 500 advanced 0.6%.
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