It’s Elon Musk’s latest major accomplishment…
Four major automakers are joining Tesla’s Supercharging Network.
It’s the latest step toward securing Elon Musk’s Master Plan 3.0.
Tesla announced that it was opening up its network of EV charging stations last year.
Ford (NYSE: F) entered a partnership with Tesla to get access to its Superchargers in May. The deal allows Ford owners to use Tesla’s charging network in early 2024.
Since then, Tesla has inked additional deals with General Motors (NASDAQ: GM), Volvo (OTC: VLVLY), Rivian (NASDAQ: RIVN) and Mercedes Benz (OTC: MBGYY).
Existing EV owners can purchase an adapter that allows them to use Tesla’s chargers. New EVs from these manufacturers will have the required equipment.
The Tesla Supercharging Network gives the company a huge strategic advantage.
Elon knew that there were three big objections to buying an EV:
- The driving range of the vehicles
- Access to chargers
- Speed of charging
Tesla solved #1 by developing a battery with a range of +265 miles – even when early EVs from its competitors could only go 150 miles.
Since 2012 the company has been building out its charging network. And it’s designed to overcome objections #2 and #3.
Today Tesla operates +5,000 charging sites around the world. This includes 2,000 locations in North America – and approximately 17,000 charging plugs in the U.S.
Tesla plans to triple the number of chargers in the U.S.
Tesla Sets EV Charging Standard – Forces Automakers to Partner
Tesla is setting the standard for EV charging.
It’s North American Charging Standard – or NACS – plus is quickly becoming the preferred choice for automakers. Other automakers will be forced to adopt this standard in the U.S. – even if they dislike Musk and Tesla.
This means that Tesla charging technology will soon be integrated in every EV hitting the road in America.
Elon Musk is hyper focused on increasing EV adoption.
That’s why he’s opening the Tesla charging network to other automakers. Of course, Tesla will get paid every time an EV plus into one of its charging stations.
Estimates suggest that Tesla could earn $12 billion from its charging network by 2030. That’s more than 10% of the company’s sales this year.
Elon plans to dominate everything related to EVs.
Tesla makes the highest quality cars. The batteries charge quickly and have the longest range. They are rapidly advancing toward full self-driving. And the company owns the largest charging network in the U.S.
Plus, Tesla will profitably produce 1.8 EVs this year. And nearly every other automaker loses money on every EV it sells.
TSLA stock is already up 148% this year.
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