GM embraces Tesla's EV charging system, Wall Street cheers

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GM embraces Tesla's EV charging system, Wall Street cheers
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General Motors will join Ford in adopting Tesla's North American charging plug standard and give GM electric-vehicle buyers access to the Tesla Supercharger network under an agreement announced on Thursday.

North American charging plug standard and give GM electric-vehicle buyers access to the Tesla Supercharger network under an agreement announced on Thursday., means three of the top EV sellers in the North American market have now agreed on a standard for charging hardware. The agreement was announced by GM CEO Mary Barra and Tesla chief Elon Musk in a Twitter Spaces event.

But Transportation Secretary Pete Buttigieg told CNBC in May after the Ford-Tesla deal that the industry will eventually converge on one system but that adapters would allow cross- usage. "I think this is just going to be a fundamentally great thing for the advancement of electric vehicles," Musk said during the Twitter Spaces conversation with Barra.GM could save $400 million from the agreement, Barra told CNBC in an interview Thursday.

"This is pretty huge," Consumer Reports senior policy analyst Chris Harto said. "I could see this being kind of a snowball effect of more and more automakers jumping on board and shifting towards the Tesla standard."

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