GM CEO Mary Barra says Tesla charging deal will save the automaker up to $400 million
DETROIT -- General Motors CEO Mary Barra said a charging deal with Tesla announced Thursday will save the automaker up to $400 million of a planned investment in building out EV charging in the U.S. and Canada.
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GM said in October 2021 it planned to spend $750 million on electric vehicle-charging infrastructure in the two countries. That includes home, workplace and public charging throughout the U.S. and Canada, GM said at the time.
"We think we can save up to $400 million in the original three-quarter of a billion dollars that we allocated to this, because we've been able to do it faster and more effectively," Barra said Thursday in an interview with CNBC's "Fast Money." "We're really looking for ways that we can be more capital efficient, as we go forward."
Barra, in response to a question about licensing other Tesla technologies, said the Detroit automaker is "going to always look for ways to be more capital-efficient" and "if there's other opportunities to partner, you know, we're going to be very open to them."