Oct 26 (Reuters) – General Motors (GM.N) said on Tuesday it would install up to 40,000 electric-vehicle charging stations in the United States and Canada, as part of the automaker’s $750 million commitments to bolster its presence in the rapidly growing sector.
The announcement comes just months after the No. 1 U.S. automaker said it had signed agreements with some companies to offer its customers access to nearly 60,000 charging points across the same regions. read more
The company said on Tuesday it would expand home, workplace and public charging infrastructure through its Ultium Charge 360 ecosystem, adding that it would focus on installing them in rural and urban areas with limited access to support widespread adoption of EVs.
The charging stations will be available to all EV customers, and not just those who purchase vehicles from GM, the carmaker said.
The company’s market capitalization of $83.85 billion, however, remains far behind that of Tesla, which crossed $1 trillion in market value on Monday following its biggest-ever order from car rental firm Hertz. read more
GM earlier this month said it plans to spend $35 billion through 2025 on EVs and autonomous vehicles. read more
Reporting by Kannaki Deka in Bengaluru; Editing by Ramakrishnan M.
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