Major Automakers Invest in EV Infrastructure Development
By Vicky Tran
Major automakers are teaming up to address the shortage of EV charging stations across the United States with a $1 billion joint investment (The Wall Street Journal, 2023). BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, and Stellantis plan to implement as many as 30,000 new charging installations that will offer both Combined Charging System (CCS) and North American Charging Standard (NACS) connectors. In this remarkable collaboration, these automakers are joining forces to not only alleviate capital costs for required infrastructure buildouts but also to mitigate the risks associated with transportation electrification. Among the manufacturers, three — General Motors, Honda, and Stellantis — are Vehicle-Grid Integration Council (VGIC) members.
Based on a new report from the U.S. Department of Energy (DOE), as of July 2023, there are 32,000 publicly accessible DC fast chargers across the U.S. This footprint is not sufficient to meet the anticipated growth of EVs, however the National Renewable Energy Laboratory estimates that a staggering 182,000 DC fast chargers will be required to support a projected 30-42 million EVs. By expanding charging infrastructure, these automakers hope to encourage the adoption of EVs across the country.
Enhanced Customer Satisfaction and Zero-emission Driving
The initial stations are set to debut next summer, followed by Canada at a later stage. These chargers will derive 100% of their power from renewable energy and be strategically placed in high-traffic areas such as bustling cities, well-traveled highways, and popular vacation routes. The ultimate objective is to conveniently provide charging stations wherever individuals may choose to reside, work, or travel.
VGIC's Role as a Catalyst for Stakeholder Collaboration
This news comes on the heels of the DOE’s announcement of nine additional partnerships propelling the Vehicle-to-Everything Initiative (V2X) Memorandum of Understanding (MOU) forward. VGIC and members WeaveGrid, Wallbox, and Peak Power are part of the latest signatories. We are seeing momentum in the ecosystem, pushing us closer to our goal of a clean energy future.
VGIC is at the forefront of shaping regulatory policies for EVs as distributed energy resources and rallying key stakeholder support for focused implementation. At VGIC, we are committed to ensuring that the benefits of EV deployments and flexible charging and discharging are recognized and compensated, contributing to a stronger, more affordable, and highly efficient electric grid.
VGIC is pleased to host its Annual Member Meeting on October 17 to recap a very eventful year in the space and ensure alignment and partnership on go-forward strategies to ensure EV deployments continue to grow and that the value streams EVs supply are known. This year's event will occur at Newlab, a technology center within a larger mobility innovation district in Detroit, Michigan. Don’t miss the opportunity to network with industry leaders and secure your spot.