Hyundai plans to spend $28 billion over the next decade to speed up its electrification efforts and is considering adopting Tesla’s (TSLA) charging𝐆 n🍃etwork for all future electric vehicles.

Speaking at the company’s 2023 Investor Day in Seoul, Hyundai CEO and President Jaehoon Chang said the company would consider joining the alliance of automakers adopting Tesla’s charging standard, provided that it serves the interests of its customers. Hyundai plans to increase the electric share of its vehicles to 34% by 2030, up from this year’s 8%.

One obstacle is that Hyundai’s latest electric cars, such as the Ioniq 5, operate at a higher voltage than Tesla’s, which wouldn’t match the fast rate of charging to which Hyundai EV drivers are accustomed. Hyundai’s CEO has said he plans to consult with Tesla on whether a faster-charging option could become available. Tesla’s network of superchargers makes up about 60% of all EV charging stations in the U.S.

Tesla has been expanding its partnerships with other EV makers in recent months, including with two of the top three carmakers in the U.S., in an effort to reach more drivers. In May, 澳洲幸运5官方开奖结果体彩🍒网:the company struck a deal with Ford (F) that would give the latter’s EV drivers access to 12,000 Tesla Superchargers, while all future Ford EVs will contain an NACS charging port. Earlier this month, Tesla also agreed to 澳�🐻�洲幸运5官方开奖结果体彩网:open its charging network to General Motors’ (GM) EVs.

Tesla 澳洲幸运5官方开奖结果体彩网:opening its charging network to other manufacturers is a prerequisite for the company to qualify for part of the Biden administration’s $7.5 billion in subsidies meant to spe🍌ed up the deployment of chargers throughout the U.S.🥀