You have seven car manufacturers that are going to be getting together in terms of this joint venture," he said. The Justice Department did not respond to a request for comment.Īndre Barlow, an antitrust attorney with Doyle Barlow and Mazard, said the Justice Department would likely review the deal despite White House support.Ī common concern with joint ventures is that a legal collaboration could potentially lead to illegal coordination, like price fixing or dividing up markets, he said.
Industry officials said the new venture might be structured similar to Ionity, which was founded in 2017 in Europe and counts VW, Daimler, BMW, Ford and Hyundai as members.Īsked whether the new venture would raise antitrust concerns with, a spokesman for the group cited the joint statement where the companies said it was subject to regulatory approvals. The new venture would also compete against established charging companies, including Volkswagen's (VOWG_p.DE) Electrify America and EVGo (EVGO.O). "But they do have boatloads of money to throw at the problem and should outsource that work."
"It won't be easy for the automakers to catch up," he said. state correctional education directors and a review of programs offers recommendations for improving correctional education. The new charging company will support both charging standards but will compete with Tesla's network.ĬEOs of the seven auto brands said a charging network built out like gas stations with restrooms, food service and retail operations would support a faster EV rollout.Īutomakers, however, lack the necessary electricians or experience working with retailers, said Andres Pinter, co-CEO at installation and maintenance company Bullet EV Charging Solutions. Correctional education improves the chances that inmates released from prison will not return and may improve their chances of postrelease employment. The other automakers – Stellantis, Hyundai, Honda and BMW – have not committed to the Tesla technology known as the North American Charging Standard (NACS) and have product plans that rely on a rival known as the Combined Charging System (CCS). On Wednesday, it said the new venture was part of its effort to reduce cost and "won't change GM's existing commitments or collaborations." GM previously said it could save $400 million from getting access to Tesla's network. GM, Mercedes and others have signed on to adopt Tesla-developing charging technology from 2025. REUTERS/Steve Marcus/File Photo/File Photo Acquire Licensing Rights
Stellantis CEO Carlos Tavares speaks during a Stellantis keynote address at CES 2023, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S.
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