SAIC-GM, a joint venture between SAIC Motor and General Motors (NYSE:GM), announced its plans to join forces with Tesla (NASDAQ:TSLA) for access to the EV automaker’s Supercharger Network by the close of 2023.
This groundbreaking collaboration positions SAIC-GM as the first automotive brand in China to forge a partnership with Tesla, granting its Cadillac and Buick all-electric vehicles, built on the Ultium platform, access to Tesla's extensive Supercharger and destination charging stations.
According to a statement from SAIC-GM, owners of Cadillac and Buick EVs will have the convenience of locating available Tesla Superchargers through their mobile applications.
As of now, Tesla's charging infrastructure in China boasts an impressive network comprising over 1,800 Supercharger stations, housing a total of 11,000 Supercharger stalls.
Additionally, Tesla China manages a network of more than 700 destination charging stations, equipped with over 2,000 chargers. This robust infrastructure represents a substantial number of charging points that could significantly contribute to supporting the electric cars produced by SAIC-GM.
SAIC-GM is also actively constructing its own charging network, currently with 52 charging stations featuring a total of 246 charging piles. In a strategic move to enhance charging accessibility, SAIC-GM has entered into agreements with six additional charging providers, granting them access to a network of over 500,000 chargers throughout China.
Shares of TSLA and GM are up 2.19% and 1.30%, respectfully, in afternoon trading on Friday.