General Motors is partnering with electric vehicle charging network EVgo to build 2,700 new fast-charging stations across the U.S. over the next five years.
This would triple EVgo's current footprint of 800 stations across 34 states and provide the needed infrastructure for the electric vehicle boom.
"This is a fantastic boost for the business," Cathy Zoi, CEO of EVgo, told Cheddar. "We're seeing the United States ramping up right now on electric vehicles. The sales are increasing, and importantly the number of models is increasing."
GM alone is set to produce 23 new models by 2023, which means more electric cars on the streets. At the moment, however, most owners rely entirely on their home hook-ups to charge.
"The key to this is around leaning in and making sure we're ahead of the market," said Alex Keros, lead architect of EV infrastructure for GM. "It's really around building a full ecosystem, whether you're charging at home, whether you're at work, whether you're on the road for a longer trip."
How the EV industry thinks about the role of charging stations in growing the market for electric vehicles is often a "chicken or an egg conversation," he added. Do more people need to buy EVs before the infrastructure can grow? Or does the infrastructure already need to be there for widespread adoption to take place?
Ultimately GM settled on the idea that the "infrastructure needs to be there," he said.
In California, where EV ownership is the highest in the country, charging infrastructure has sprouted up all over the state. This initiative aims to broaden the footprint nationally, in anticipation of greater EV adoption, by providing highly-visible charging locations in about 40 metropolitan areas.
"Think of Detroit, Chicago, Houston, Orlando, all kinds of places," Zoi said.
Many of these stations, she added, will be at locations where vehicles can charge while you're doing something else.
"Our favorite place to site our charger is at a grocery store parking lot," Zoi said. "So it takes you 60 seconds or less to plug in, and then you go in to do your shopping."
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
Aurimas Sabulis, CEO of Dextall, unveils how AI‑driven prefabricated façades slash design time by 80%, labor by 87%, and accelerate affordable housing delivery.
