In early afternoon trading, the S 500 is struggling to recover from a drop earlier in today's session. Electric vehicle (EV) stocks are treading a less rocky road thanks to an announcement from carmakers that is powering excitement for several upstart EV companies: Rivian (NASDAQ: RIVN), Lucid (NASDAQ: LCID), and Nio (NYSE: NIO).

As of 1:57 p.m. ET, shares of Rivian and Nio are up 6.1% and 10.2%, respectively, while Lucid is up 3.1%, paring back its earlier gain of 6.6%.

EV drivers throughout North America will soon have greater access to charging stations thanks to a new plan announced by General Motors and six auto industry partners: , Honda, Hyundai, Kia, Mercedes-Benz, and Stellantis.

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Source Fool.com