General Motors Company GM is set to provide its customers access to more than 17,800 Tesla Superchargers using a GM-approved North American Charging Standard (NACS) DC adapter. This initiative aims to enhance fast and convenient charging options for both current and future electric vehicle (EV) drivers.
By integrating the Tesla Supercharger Network, GM customers will gain access to more than 231,800 public Level 2 and DC fast chargers across North America, with this number expected to rise as GM continues to expand infrastructure through its various charging partnerships in communities and heavily traveled corridors. Initially, the GM-approved NACS DC adapters will be available to U.S. customers while Canadian customers will get access later this year.
U.S. customers can purchase GM-approved NACS DC adapters for the manufacturer’s suggested retail price of $225 via GM's vehicle brand mobile apps, where they can also locate Tesla Superchargers, check station availability, start charging and pay for charging sessions. To ensure a smooth experience, General Motors will work with multiple suppliers to manufacture the adapters, all of which are designed to allow GM EVs to charge at stations using the NACS.
The legendary automaker aims to achieve improved sales and profitability in its EV business by reducing battery costs, introducing new models and scaling expansion. GM expects EVs to achieve variable profit by the fourth quarter of 2024. The firm’s modular battery platform, the Ultium Drive system, is aiding the company’s e-mobility goals. General Motors’ battery plants in Ohio, Tennessee and Lansing are likely to scale up its e-mobility prowess.
Besides the Ultium platform, which is set to rev up its electrification capabilities, GM’s Ultifi platform seeks to enable the firm to achieve leadership in software and services. General Motors’ existing and upcoming EV offerings, including Cadillac Celestiq, Chevrolet Silverado EV, Cadillac Escalade IQ, Chevrolet Blazer EV, Chevrolet Equinox EV, Cadillac Lyric, GMC Hummer EV SUV and pickup, GMC Sierra EV, Cadillac Optiq and BrightDrop Zevo, are expected to drive the company’s EV momentum.
GM’s Zacks Rank & Key Picks
GM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Dorman Products, Inc. DORM, Blue Bird Corporation BLBD and Douglas Dynamics, Inc. PLOW, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for DORM’s 2024 sales and earnings suggests year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 51 cents and 37 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.58% and 215.89%, respectively. EPS estimates for 2024 and 2025 have improved 65 cents and 80 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for PLOW’s 2024 earnings suggests year-over-year growth of 60.4%. EPS estimates for 2024 have improved 15 cents in the past 60 days.
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