GM program to install more EV chargers across US, Canada

general motors, r m
FILE- In this May 2, 2021, file photo, a General Motors sign hangs on the side of a Chevrolet showroom in Englewood, Colo. General Motors announced Tuesday, Oct. 26 2021, that it is planning to install up to 40,000 electric vehicle chargers, starting next year, across the U.S. and Canada as part of a new community charging program. (AP Photo/David Zalubowski, File)

General Motors is planning to install up to 40,000 electric vehicle chargers across the U.S. and Canada as part of a new community charging program.

The vehicle maker said Tuesday that the program will start next year. It will work with its dealers to have the charging stations in locations including workplaces, multi-unit dwellings, sports and entertainment venues and college and universities. According to the company, nearly 90% of the U.S. population lives within 10 miles of a GM dealer.

The charging stations will not be limited to those that have GM vehicles. They will be available to anyone that has an electric vehicle, regardless of the brand.

The program is part of a series of investments the Detroit company announced earlier this month. GM then pledged to increase its investment in EV charging networks by nearly $750 million through 2025.

The announcement comes a day after Hertz ordered 100,00 Model 3 small cars from Tesla — and announced plans to set up its own charging network — due to growing consumer interest in electric vehicles.

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
General Motors (GM)
4.8779 of 5 stars
$44.47-0.1%1.08%5.44Moderate Buy$54.65
Tesla (TSLA)
4.4168 of 5 stars
$179.99-1.8%N/A45.92Hold$184.32
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