Tesla, the world’s most successful electric vehicle (EV) automaker, has agreed to share its charging stations with other automakers.
Key Details
- In a Thursday statement, Ford announced that Tesla will allow customers to use 12,000 of its available U.S. and Canada-based Supercharger stations.
- Ford will be gradually installing Tesla’s charging port into its new vehicles—including its F-150 Lightning pickup, Mustang Mach-E sports car, and E-Transit vans—allowing its vehicles to take advantage of available EV-charging infrastructure starting next year, although requiring an adapter for older models.
- “We don’t want the Tesla Supercharger network to be like a walled garden. We want it to be something that is supportive of electrification and sustainable transport in general,” tweeted Tesla CEO Elon Musk.
- Details on pricing will be revealed closer to the 2024 launch. Tesla currently charges between $0.25 and $0.50 per kilowatt.
- Both Ford (0.5%) and Tesla (2%) saw stock jumps on Thursday after the announcement, Forbes reports.
Why It’s Important
One of the major stumbling blocks to the widespread adoption of EVs is the lack of charging infrastructure. Potential buyers fear they would run out of charge and not be able to fuel up. In addition to an insufficient number of chargers, non-Tesla chargers have a high rate of malfunction, frustrating consumers.
The global push to embrace clean energy has created an opportunity for Tesla to help push EV technology into the mainstream.
The Biden administration has pushed a goal of building 500,000 EV charging stations before 2030 to create a sustainable network for long-distance travel using EVs. Thus far, short-range driving limitations of EVs, limited battery capacity, and limited charging stations have made the technology not suitable for long-distance travel in the U.S. Teslas only have a general range of 270 to 400 miles before requiring a charge.
As we previously reported, the Biden administration struck a deal with Tesla in February to make its growing network of 17,000 charging stations partially available for other EV brands. Tesla plans to open 7,500 chargers for shared use by the end of next year. The deal stands to offer Tesla additional revenue through charging fees.
Notable Quote
“We think this is a huge move for our industry and for all electric customers,” says Ford CEO Jim Farley.
