General Motors Co. and Royal Dutch Shell Plc are teaming up in the U.S. to expand electric vehicle charging and household energy plans drawing on renewable resources.
The automaker and a Shell-owned power company, MP2 Energy LLC, are starting their joint project in Texas, where owners of GM electric cars can get free overnight charging this summer, the companies said Wednesday. The plan is to provide comprehensive energy programs to GM’s customers and supply chain partners, including fixed-rate home energy plans backed by 100% renewable energy.
The partnership follows a flurry of low-carbon ventures between energy producers and manufacturers across the globe, with their climate ambitions — including emissions by their customers — being scrutinized by investors and activists. Shell is under more immediate pressure than any of its Big Oil peers after a Dutch court last month ruled it must slash its emissions 45% by 2030.
GM has set a target of being carbon neutral in its global products and operations by 2040.
The U.S. lags the world’s other leading markets in EV sales after fuel-economy regulations were eased during President Donald Trump’s administration. Since taking office in January, President Joe Biden has rejoined the Paris Climate Accord and proposed spending $174 billion to accelerate the shift to electric cars, including installing a half-million charging stations across the country.
© 2021 Bloomberg L.P.