Hyundai Joins The Club - The Latest Company To Gain Access Tesla Superchargers In North America
Portfolio Pulse from Nabaparna Bhattacharya
Hyundai Motor Co., Ltd. (OTC:HYMTF) has announced plans to adopt Tesla, Inc.'s (NASDAQ:TSLA) electric vehicle charging technology in the U.S. and Canada. The collaboration will commence in Q4 2024 for the U.S. and H1 2025 for Canada, allowing Hyundai EVs with North American Charging Standard (NACS) ports access to over 12,000 Tesla Superchargers. Hyundai's E-GMP vehicles, including IONIQ 5 and IONIQ 6, and the forthcoming IONIQ 7, will benefit from this. Hyundai recently invested $400 million for a 5% stake in Korea Zinc to secure a stable supply of essential materials for EV battery production.
October 05, 2023 | 3:38 pm
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POSITIVE IMPACT
Hyundai's collaboration with Tesla to adopt its EV charging technology could enhance the appeal of Hyundai's EVs and potentially boost sales.
The adoption of Tesla's charging technology will enhance the convenience and appeal of Hyundai's EVs, potentially leading to increased sales. The investment in Korea Zinc also shows Hyundai's commitment to the EV market, which could positively impact investor sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tesla's collaboration with Hyundai to provide EV charging technology could increase the usage of Tesla's Superchargers and generate additional revenue.
The collaboration with Hyundai will increase the usage of Tesla's Superchargers, potentially generating additional revenue. This could also enhance Tesla's reputation as a leader in EV charging technology, positively impacting investor sentiment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100