Honda Joins Ford, GM, Volvo In Adopting Tesla's EV Charging Standard
Portfolio Pulse from Natan Ponieman
Honda Motor Co Ltd (NYSE:HMC) has announced that it will adopt Tesla's (NASDAQ:TSLA) EV chargers for its upcoming electric vehicles starting in 2025. Honda joins a growing list of car companies, including Ford Motor Co. (NYSE:F), General Motors Co (NYSE:GM), and Volvo Cars ADR (OTC:VLVCY), that have committed to using Tesla's North American Charging Standard (NACS). Tesla has also announced a new partnership with Hilton Hotels (NYSE:HLT) to add up to 20,000 universal wall connectors for both standards in 2,000 hotel locations in the U.S., Mexico, and Canada.
September 07, 2023 | 9:39 pm
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POSITIVE IMPACT
Tesla's EV charging standard is being adopted by multiple car companies, including Honda. Tesla also announced a new partnership with Hilton Hotels.
The widespread adoption of Tesla's EV charging standard and the new partnership with Hilton Hotels could potentially increase Tesla's revenue and positively impact its stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Hilton Hotels partners with Tesla to add up to 20,000 universal wall connectors in 2,000 hotel locations.
The partnership with Tesla could enhance Hilton's appeal to EV owners. However, it's uncertain how this will impact Hilton's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Honda to adopt Tesla's EV charging standard for its future EVs starting in 2025.
The adoption of Tesla's charging standard by Honda is a strategic move for the company's future EVs. However, it's not clear how this will impact Honda's stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100