{"id":20427,"date":"2023-06-09T08:55:14","date_gmt":"2023-06-09T12:55:14","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/gm-will-use-teslas-charging-network-ford-is-doing-the-same\/"},"modified":"2023-06-09T08:55:16","modified_gmt":"2023-06-09T12:55:16","slug":"gm-will-use-teslas-charging-network-ford-is-doing-the-same","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=20427","title":{"rendered":"GM Will Use Tesla’s Charging Network. Ford Is Doing the Same."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n
<\/div>\n<\/figure><\/div>\n

If you can\u2019t beat \u2019em, join \u2019em.<\/p>\n

\n Ford
\n \u2018s deal to use
\n Tesla
\n EV\u00a0chargers\u00a0left investors wondering what
\n General Motors
\n would do. Now they know: GM will use Tesla\u2019s network too.<\/p>\n

GM (ticker: GM)\u00a0said\u00a0Thursday its EVs will be able to access the Tesla (TSLA) supercharging network in 2024. The deal looks similar to one Tesla and Ford Motor (F) announced\u00a0in May.<\/p>\n

\n

GM stock was up 3% in after-hours trading, while Tesla shares rose 3.4%, building on a gain of 4.6% in regular trading. It was the tenth consecutive rise for Tesla stock.<\/p>\n

GM also said it would adopt the North American Charging Standard, or NACS, in 2025. That\u2019s Tesla\u2019s plug.<\/p>\n

The plug isn\u2019t a big deal. This isn\u2019t analogous to the battle between Betamax and VHS. A better analogy is
\n Apple
\n (AAPL) and
\n Samsung
\n (005930.Korea).<\/p>\n

Phone owners might not like juggling lightning ports and c-ports, but the plugs both companies use channel the same electricity. All that any of these chargers need is an adaptor.<\/p>\n

The standardization the GM and Ford deals bring means that drivers won\u2019t end up like phone owners with a bunch of cables and adapters piling up. It is positive news, but don\u2019t expect it to mean a lot of money or EV market share for anyone.<\/p>\n

Tesla will benefit, taking a role like that of the the gas station in the internal-combustion-engine world. Tesla owners pay when they plug into a Tesla charger. So will Ford and GM drivers.<\/p>\n

Expanded charging access could bring $1 billion to $3 billion in annual sales to Tesla. according to an older estimate from Goldman Sachs analyst\u00a0Mark Delaney.<\/p>\n

For GM, it means better charging access for EV owners, a key for anyone considering buying an EV.<\/p>\n

The U.S. is a little deficient in EV charging. China has about 12 EVs on the road for every fast charger, while the U.S. has about 50, according to Bloomberg BNEF and\u00a0Barron\u2019s<\/em>\u00a0calculations.<\/p>\n

Fast chargers, like the ones Tesla owns and operates, aren\u2019t for everyday charging, but they are a good option for road trips. EV owners should generally charge at home because residential electricity rates are cheaper.<\/p>\n

The deal is good for GM and for Tesla. It also highlights that traditional EV companies are all in on EVs.<\/p>\n

Stock in ChargePoint (CHPT) was down more than 5% in after-hours trading, but the public charging company should be fine. There is a lot of infrastructure to build as the U.S. makes the transition away from internal-combustion enginers. After all, a lot of gas-station brands that have thrived in the U.S. since Ford introduced the Model T.<\/p>\n

Write to Al Root at allen.root@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

If you can\u2019t beat \u2019em, join \u2019em. Ford \u2018s deal to use Tesla EV\u00a0chargers\u00a0left investors wondering what General Motors would do. Now they know: GM will use Tesla\u2019s network too. GM (ticker: GM)\u00a0said\u00a0Thursday its EVs will be able to access the Tesla (TSLA) supercharging network in 2024. The deal looks similar to one Tesla and […]<\/p>\n","protected":false},"author":1,"featured_media":20428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-20427","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nGM Will Use Tesla's Charging Network. Ford Is Doing the Same. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"If you can\u2019t beat \u2019em, join \u2019em. 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