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Stock impact report

GM, ChargePoint to install up to 500 ultrafast charging stations in US [USA TODAY]

ChargePoint Holdings, Inc. (CHPT) 
Company Research Source: USA TODAY
Many stations will feature ChargePoint's Omni Port system, allowing vehicles with different charging ports to charge without adapters. The ultrafast charging technology could provide up to 200 miles of range in just 5 minutes. General Motors is collaborating with ChargePoint to install up to 500 ultrafast charging stations across the United States to broaden the nation's charging infrastructure and encourage consumers to buy electric vehicles. ChargePoint, a provider of EV chargers, and GM expect to have the charging stations built and available to the public before the end of next year, the companies said Wednesday. The move is critical considering a lack of sufficient public chargers has been a barrier to EV adoption, which is growing but has lagged expectations. Michigan has a goal of 100,000 EV chargers being publicly accessible by 2030, but as of earlier this year, the state had fewer than 2,000. Nationally, more than 192,000 charging ports are publicly available, with a Show less Read more
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