Charging network access is sometimes mentioned as a barrier to increasing market share, and there was also the “splashy nature of the Spaces platform,” the analyst said. TPH analyst Jeoffrey Lambujon was skeptical that the news would be more than a short-term boost for Ford stock. “No doubt, Tesla bears will jump on this and say that Tesla is destroying its moat … But we think there are several potential reasons for why Tesla is doing this, and we expect it to open its network eventually to other OEMs, including GM and Stellantis,” he said.Įarlier this year, Tesla said it would open up much of its Supercharger network to other automakers by the end of 2024 as part of a Biden administration plan to provide at least 500,000 chargers across the country by 2030. Musk has hinted in the past that the network will eventually be opened up, the analyst said. 7 Reviews Reviews aren't verified, but Google checks for and removes fake content when it's identified In this informative and delightful (American Scientist) biography, Margaret Cheney. Ultimately, however, “we think this should be viewed as Tesla playing the long game.” “The news is obviously a positive for Ford shares today” and a potential near-term negative for GM and Tesla shares, Narayan said. Shares of Tesla gained 4%, while General Motors Co.’s and Canada starting early next year, in addition to Ford’s own charging network.įord EVs would use an adapter at first, but in a couple of years the EVs would have built-in connectors and no adapters would be needed. Chief Executive Elon Musk held a Twitter Spaces livestream to reveal the agreement, which would allow Ford owners to access Tesla Superchargers in the U.S.
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