Hyundai Motor Group, along with other major automakers such as BMW, General Motors, Honda, Mercedes-Benz, and Stellantis, has announced its plans to establish a joint venture in the United States to build an electric vehicle charging network. The collaboration, which was revealed on July 27, aims to install around 30,000 high-powered charging stations across cities and highways in North America. The goal is to provide convenient and accessible charging options for electric vehicle owners, ensuring they can charge their vehicles whenever and wherever needed.
The charging stations will be equipped with connectors compatible with both the US standard CCS (Combined Charging System) and Tesla's NACS (North American Connector Standard) charging standard. This will allow all electric vehicle customers to utilize the infrastructure, regardless of their vehicle's brand. According to The Wall Street Journal, the joint venture will require an investment of at least US$1 billion (approximately 1.27 trillion Korean won) from the participating automakers.
The collaboration between Hyundai Motor Group, Kia, and other major automakers highlights the growing importance of developing a robust charging infrastructure to support the increasing adoption of electric vehicles. By expanding the availability of charging stations, the joint venture aims to alleviate concerns surrounding range anxiety and promote the widespread use of electric vehicles. This initiative not only benefits current electric vehicle owners but also encourages potential buyers to consider electric vehicles as a viable and convenient mode of transportation.