Charge Enterprises built electric charging for dealers, hotels and other business customers. They made as much as $750 million per year in revenue but almost always had losses.
GM and Stellantis were among the funders and customers of Charge Enterprises. In August 2023, GM, Honda, BMW, Mercedes-Benz, Hyundai, Kia, and Stellantis announced a $1 billion investment to install 30,000 EV charging stations across North America by 2030.
Stellantis partnered with Charge Enterprises in 2023 to install EV chargers at its 2,600-plus dealerships across the US. They installed chargers for Volvo, Ford, and General Motors.
GM backed self driving car company Cruise, which provided self driving cars for robotaxi service. Cruise has halt robotaxi operations nationwide and laid off a lot of its staff.
Nikola makes electric and hydrogen powered trucks and was worth as much as $80 billion but is now worth about $800 million. In 2020, GM got 11% ownership in startup Nikola.
In 2022, GM said they would spend $11-13 billion per year to make the switch to electric cars.
In October, 2023, GM said it no longer will provide EV production target and has delayed or canceled electric car related projects.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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