In a move to facilitate charging for its electric vehicles, General Motors (GM) recently announced that it will now provide adapters for Tesla's Supercharger network. This $225 accessory comes as a result of Tesla opening up its vast charging network to other electric vehicle manufacturers last year. Despite facing challenges like production delays and workforce layoffs in the Supercharger team, this initiative is making steady progress.
This strategic move serves as an additional revenue source for Tesla and is widely appreciated for its potential to boost EV sales by addressing the "range anxiety" commonly experienced by potential customers of other carmaker's electric vehicles. Up until now, only Ford and Rivian have surpassed the initial phase of integrating Tesla's charging software, according to a New York Times report from last month.
Meanwhile, a separate Wednesday announcement highlighted GM's provisional agreement with one of the largest labor unions in Canada, representing over 1,300 of its employees at facilities manufacturing electric vans and batteries. The members of this union are scheduled to cast their vote on the proposed agreement this coming Sunday.
The morning following these disclosures saw a rise of more than 2% in GM shares and a slight increase in Tesla's shares as well.