A coalition of carmakers says that in nine months, it has doubled the number of charging ports it offers - although its network size still pales in comparison to Tesla's
Concerns over electric-vehicle charging continue to nag at prospective buyers.
High gas prices haven't done much to revive a sluggish electric-vehicle market. One impediment has been the spotty availability of charging infrastructure.
That's something that major car companies are trying to tackle. It's a big enough hurdle that some big rivals are working together as they look to build products that provide an alternative to, or complement, Tesla's (TSLA) charging network.
Improving EV charging is "the last frontier, so to speak," Ionna CEO Seth Cutler told MarketWatch. "If we can really provide reliable, affordable and convenient public charging, I think there's an opportunity to really start to unlock the barriers fully for people to adopt EVs."
Ionna was founded in mid-2023 by a coalition of major automakers, including General Motors (GM), Stellantis $(STLA)$ and Hyundai (KR:005380), and it opened its first charging site in early 2025. A few other automakers, such as Rivian Automotive (RIVN), have made deals to use the joint venture's charging networks.
Such agreements have been common in recent years as automakers look to overcome charging anxiety, one of the major hurdles for consumers skeptical about buying an EV. Many have announced deals to give their customers access to Tesla Superchargers.
Those deals were seen as good for both Tesla and for EV customers. Tesla currently operates about 41,552 Supercharger charging ports in the U.S. and Canada, more than all but ChargePoint $(CHPT)$, according to the U.S. Department of Energy.
Ionna has 1,566 charging ports at more than 180 stations in the U.S., according to the company and the Energy Department. While that is a far less extensive network than the one Tesla offers, it represents a doubling of the size of Ionna's operation since the beginning of 2026, according to the company. The coalition is on target to have more than 200 sites operational by the end of the year, Cutler said.
Cutler added that Ionna operates one of the largest networks in "key areas" where EVs are popular, such as Northern California and Texas. The goal, he said, is for Ionna to become a "network of choice" that consumers can rely on for their daily commute, as well as for road trips. It could also help drive EV sales.
Charging-station availability was the leading reason for consumers to reject EVs this year, according to a May survey from JD Power, followed closely by charging speed.
Ionna's chargers can deliver speeds of up to 400 kilowatt hours, the company said, which is better than many other fast-charging stations. Other providers are also pushing to offer better performance, with EVgo $(EVGO)$ on Tuesday revealing plans to introduce a new charging system capable of delivering up to 750 kW in 2027.
The push from Ionna, EVgo and others comes as inflation and other costs like gas prices continue to weigh on consumers. "I think it's definitely making people question what kind of car to buy," Cutler told MarketWatch.
Later this week, carmakers are expected to begin reporting their third-quarter sales. The research firm Cox Automotive expects automakers to report sales of 0.7% fewer new vehicles in the U.S. compared with the same period a year ago.
A much bigger drop is likely to be seen with EV sales, with Cox forecasting a 45% year-over-year decline for the third quarter. That drop, however, has a lot to do with a rush of purchases late last year as customers sought to take advantage of expiring federal tax incentives. Cox noted that new EV sales are stabilizing near 6% of the market as cheaper EVs land on the market.
"The EV price premium over ICE+ has narrowed significantly," Stephanie Valdez Streaty, Cox's director of industry insights, said during a webinar, referring to gas-powered cars. The average EV sold for $54,754 in August, compared with $49,907 for gas-powered cars, she said. That cuts the price gap to 9.7% from 16.5% a year earlier.
From the archives (July 2025): Hybrids are the breakout star of the U.S. car market as EV demand fades
-William Gavin
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