Tesla's Charging Standard Gains Momentum As 28 Automakers, Including Volkswagen Brands, Jump On Board
Portfolio Pulse from Anan Ashraf
Volkswagen AG's subsidiaries, including Volkswagen, Audi, Porsche, and Scout Motors, will adopt Tesla Inc's North American Charging Standard (NACS) starting in 2025 for their EVs in North America. This move will allow these vehicles to access Tesla's extensive supercharger network. Tesla welcomed the expansion of NACS adoption, which has grown from one automaker in 2022 to 28 in 2023. Ford Motor Co was the first major automaker to adopt NACS, followed by others like General Motors Co, Rivian Automotive Inc, and Volvo Group. Stellantis NV has not yet committed to NACS.
December 20, 2023 | 3:40 am
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Ford Motor Co was the first major automaker to adopt Tesla's NACS, which may now see increased adoption as more automakers, including Volkswagen brands, join.
Ford's early adoption of Tesla's NACS is reaffirmed by the growing number of automakers joining the standard. While this news does not directly impact Ford, it validates their decision and could indirectly benefit Ford if the standard becomes more widely accepted.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Tesla's NACS gains significant adoption as Volkswagen brands commit to the standard for their North American EVs starting in 2025, potentially increasing Tesla's supercharger network usage.
The adoption of Tesla's NACS by Volkswagen brands is a strong endorsement of Tesla's technology and could lead to increased usage of Tesla's supercharger network. This partnership is likely to be viewed positively by investors, as it could enhance Tesla's position in the EV infrastructure market and potentially generate additional revenue.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Volkswagen AG's brands, including Volkswagen, Audi, Porsche, and Scout Motors, will adopt Tesla's NACS for their North American EVs by 2025, aiming to leverage Tesla's supercharger network.
Volkswagen AG's decision to adopt Tesla's NACS for its brands' EVs in North America is a strategic move to improve their vehicles' charging infrastructure. This could be beneficial for the company's competitive position in the EV market and may be seen as a positive development by investors.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80