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GM to boost EV profile with 40,000 charging stations in U.S., Canada -Breaking

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© Reuters. FILE PHOTO – The facade of General Motors Headquarters in Detroit, Michigan (U.S.A.), March 16th, 2021, shows the new GM logo. REUTERS/Rebecca Cook

(Reuters) – General Motors (NYSE) announced Tuesday that it will install up to 40,000 charging stations for electric vehicles in America and Canada as part of its $750 million pledges to bolster the company’s presence in this rapidly expanding sector.

This announcement is made just months after No. The announcement comes just months after the No. 1 U.S. automobilemaker announced that it had reached agreements with several companies in order to provide its customers access at least 60,000 charging stations across similar regions.

According to the company, Tuesday’s announcement stated it was expanding home, office, and public charging infrastructure via its Ultium Charge 360 ecosystem. The company also indicated that they would be installing them in urban and rural areas, which will help support widespread adoption.

According to the automaker, all EV buyers will have access to charging stations, not only those who buy vehicles from GM.

GM stated earlier in the month it would double its revenue by 2030. It indicated that it could build profitable software-driven service and compete with Elon Musk’s Tesla (NASDAQ) Inc.

The company’s current market capitalization, $83.85 billion is far less than that of Tesla. Tesla reached $1 trillion market value Monday, following the largest order ever from Hertz, a car rental agency.

GM announced earlier in the month that it will spend $35 billion on EVs through 2025.

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