Synopsis-
“World’s two leading automakers not just in diesel and petrol, but also in electric vehicles. These two giant automakers have united and given a surprise deal for EV charging technology and infrastructure.”
Who doesn’t know Tesla and Ford Motors? World’s two leading automakers not just in diesel and petrol, but also in electric vehicles. These two giant automakers have united and given a surprise deal for EV charging technology and infrastructure. Now, this deal is certainly going to put new pressure on the EV (electric vehicle) strategies of other automakers.
Why did Ford Motor and Tesla Join Forces?
The partnership between two rivals will help Ford to use over 12, 000 Tesla Superchargers throughout the US and Canada, starting early in 2024. More importantly, next-gen Ford ev/s (expected by mid-decade) use EV charging technology of Tesla enabling Ford EV owners to charge at Tesla Superchargers without an adapter.
Tesla CEO Elon Musk and Ford CEO Jim Farley jointly announced this deal on Thursday stating that Ford is among the first automakers to exclusively tie into the network. On Friday, Farley acknowledged the partnership would create a tough time for Ford’s rivals.
Farley said, “The CCS is a great standard, but it was pretty much done by kind of a committee, and I think GM and others are going to have a big choice to make. Do they want to have fast charging for customers? Or do they want to stick to their standard and have less charging?”
Farley’s comments referred to which EV plug should be used for charging in the United States. CCS chargers are now the industry standard. NACS is used by Tesla vehicles and its Supercharger network. Other vehicles can use both, but an adapter is required.
Sharp Rise in Ford’s & Tesla’s Stock
On Friday, the stock of Ford rose by 6.2% closing at $12.09 per share. The deal for EV charging technology also helped Tesla’s shares to climb by 4.7% ending the week at $193.17.
