Major automakers and energy companies have jointly announced a $50 billion initiative to expand electric vehicle charging infrastructure across North America, marking one of the largest coordinated investments in sustainable transportation.
The ambitious plan calls for the installation of 500,000 new charging stations by 2028, with a focus on underserved rural areas and highway corridors. The consortium includes seven major automakers and three energy companies, representing a unified push to address one of the primary barriers to EV adoption.
“Range anxiety has been the elephant in the room for electric vehicle adoption,” said Jennifer Morrison, CEO of one of the participating automakers. “This coordinated effort ensures that drivers will have convenient access to charging regardless of where they live or travel.”
The charging stations will utilize ultra-fast charging technology capable of delivering 300 miles of range in under 15 minutes. The network will also integrate renewable energy sources, with solar canopies and battery storage systems planned for many locations.
Industry analysts project this infrastructure expansion could accelerate the transition to electric vehicles, potentially bringing forward the timeline for EVs to reach price parity with traditional vehicles by improving economies of scale across the supply chain.