On Friday, the White House announced that Tesla’s (TSLA.O) standard plug electric-vehicle charging stations might receive billions of dollars in federal subsidies if they also used CCS.
Ford Motor (F.N.) and General Motors (GM.N) announced they would adopt Tesla’s North American Charging Standard (NACS) charging scheme. The moves upended a charging sector leaning toward CCS with federal subsidies.
The Biden administration has never officially linked Tesla to its $7.5 billion plan to deploy high-speed chargers on 7,500 miles of the nation’s busiest roadways.
Tesla climbed 4.1%. Analysts said the Ford and G.M. news was a huge win that might make Tesla Superchargers an industry standard in the U.S.
Ford gained 1.3% and GM 1.1%.
However, ChargePoint (CHPT.N), EVgo (EVGO.O), and Blink Charging (BLNK.O) plummeted 11%-13% as the collaboration between the three automakers raised worries about their future. They flattened after hours.
On Friday, some claimed they would adjust to Tesla.
“Earlier this year, we developed minimum standards to ensure publicly funded E.V. charging is accessible, reliable, and affordable for all drivers, and we required interoperability to promote competition,” White House spokesperson Robyn Patterson told Reuters. “Those standards give flexibility for adding both CCS and NACS, as long as drivers can count on a minimum of CCS.”
Patterson said every automobile should use every publicly financed charger. “More drivers having access to high-quality charging – including Tesla Superchargers – is a step forward.”
Tesla’s announcement did not clarify if a CCS adaptor for non-Tesla chargers was enough.
The government applauded Tesla’s move to open its charging network to competitors earlier this year but didn’t specify how the business would participate.
Volkswagen, Hyundai Motor, and Kia utilize the CCS network in the U.S.
E.V. charging parts company IoTecha CEO Oleg Logvinov claimed competing standards would raise consumer and vendor expenses.
CharIN North America’s president, Logvinov, said the organization supported CCS since it had worked with several vendors for over a decade and Tesla’s technology was untested.
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