Hyundai Mulls Joining Tesla's North American Charging Standard Alliance: Report
Portfolio Pulse from Shivani Kumaresan
Hyundai Motor Company is considering joining Tesla's North American Charging Standard (NACS) alliance, which has been adopted by General Motors and Ford. Tesla's Superchargers make up 60% of total available U.S. fast chargers. By opening its charging network to other brands, Tesla could qualify for $7.5 billion in subsidies.
June 20, 2023 | 1:02 pm
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NEUTRAL IMPACT
Ford has already adopted Tesla's NACS, potentially benefiting from the expanded charging network.
As Ford has already adopted Tesla's NACS, the news of Hyundai potentially joining the alliance does not have a direct impact on Ford's stock price. However, the overall growth of the NACS alliance could benefit Ford in the long term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
General Motors has already adopted Tesla's NACS, potentially benefiting from the expanded charging network.
As GM has already adopted Tesla's NACS, the news of Hyundai potentially joining the alliance does not have a direct impact on GM's stock price. However, the overall growth of the NACS alliance could benefit GM in the long term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Hyundai considers joining Tesla's NACS alliance, which could benefit its customers and expand its charging options in the US.
Joining the NACS alliance would give Hyundai access to Tesla's extensive charging network, benefiting its customers and potentially increasing sales of its electric vehicles. This could have a positive impact on Hyundai's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Tesla could gain $7.5 billion in subsidies by opening its charging network to other brands, such as Hyundai.
Opening its charging network to other brands would make Tesla eligible for $7.5 billion in subsidies, which could be used to further expand its charging infrastructure and strengthen its position in the EV market. This could have a positive impact on Tesla's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100