A new charging network being built by major automakers may entice more buyers to purchase EVs.

The announcement on Wednesday that seven major manufacturers will collaborate to construct a huge North American electric vehicle charging network might entice people to reconsider driving gas-powered automobiles. That’s how analysts perceive General Motors, BMW, Honda, Hyundai, Kia, Mercedes, and Stellantis’ plans to develop a network of fast-charging stations to match Tesla’s and roughly treble the number of quick-charging outlets in the United States and Canada.”Anything that increases the availability of — especially more reliable — chargers will benefit anyone considering EVs,” said Sam Abuelsamid, an e-mobility analyst with Guidehouse Insights. “It should persuade some people who were on the fence about purchasing an EV to reconsider.”

The firms announced a multibillion-dollar effort to establish “high power” charging stations with at least 30,000 plugs in urban areas and along major transportation routes by 2030. The radical shift is meant to assuage concerns that charges will be unavailable for long-distance trips. The firms refused to reveal the actual number of charging stations or the financial specifics of the joint venture they’re forming to build the network. They expect the first US chargers to be available by next summer.

The automakers stated in a joint statement on Wednesday that they seek to develop North America’s “leading network” of reliable high-powered charging stations. “The parties have agreed not to disclose specific investment numbers at this time, but the seven founding automakers intend to work as equals to ensure the success of the joint venture,” the businesses said in a written statement in response to questions from The Associated Press.

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