Tesla Drivers Beware: $1 Per Minute Congestion Fee Hits Busy Superchargers
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) has implemented a new 'congestion fee' of $1 per minute for drivers charging over 90% at busy Supercharger stations in the U.S. The fee encourages efficient charging and increases availability. It replaces idle fees at certain locations and users are notified via the Tesla app with a five-minute grace period before the fee applies. The move follows Tesla's decision to open its Superchargers to other EVs, increasing network demand. EV makers like Ford, General Motors, and Rivian Automotive Inc have access to Tesla's network.
November 22, 2023 | 10:16 am
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Tesla's new congestion fee may incentivize quicker turnover at Supercharger stations, potentially improving customer satisfaction and network efficiency.
The congestion fee is designed to improve Supercharger availability by encouraging drivers to charge only as much as needed. While this could lead to a better charging experience and more efficient use of the network, it may also cause some customer dissatisfaction due to the additional costs. The impact on the stock price is likely to be neutral in the short term as the market assesses the balance between improved efficiency and potential customer pushback.
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