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- Tesla has now opened up its extensive Supercharger network for General Motors and Ford Electric Vehicles.
- Tesla owners previously had exclusive access to charging stations.
- One analyst stated that waiting in line behind other EVs would aggravate a Tesla driver more.
Tesla owners are likely to be unhappy that the electric car maker is opening its Superchargers network to other countries.
Ford and Tesla announced in May a partnership that would allow the Detroit automaker Tesla chargers beginning in 2024. Last week, GM was given access to the Tesla chargers.
The partnership between rivals may benefit Tesla in terms of revenue, but it could cause tension among its owners.
On Yahoo Finance, Craig Irwin said, "Nothing is going to irritate Tesla owners more than standing behind a bunch Fords and General Motors."
Imagine a huge Hummer. It will take an hour to charge in front of you, while you run errands or get groceries. This is not something that people will say "Oh, great, the car has a General Motors badge." The charger does say Tesla. I paid for it. "What's the deal with that?"
Irwin's not the only one worried about what these charging deals could do to its relationship with Tesla customers.
Gene Munster, managing director at Deepwater Asset Management said on CNBC, Friday, that Tesla owners may be frustrated with the change as it could result in longer waiting times.
According to the Department of Energy, Tesla's Supercharger Network consists of 7,000 locations across North America. This has been considered by many as one of Tesla's biggest advantages over its competitors. It is because range anxiety has become a major concern for consumers when shopping for EVs. Tesla was aware of this and began building its network a decade or so ago to combat the problem.
Some owners were unhappy with the decision to make Tesla open to the public. They bought their Teslas for the exclusive Supercharging access. Some owners, however, said it was a positive move that would accelerate EV adoption and put pressure on rival charging companies to improve service.
Tesla car owners may benefit from allowing others to use the network.
Cathie wood, CEO of Ark Invest, stated that Tesla could invest the money generated from new customers in expanding its network. This would mean more access for all, she said during a CNBC Friday interview.
Wood, who is targeting a $2,000 stock price for Tesla by 2027, commented: "What's fascinating about this is that it helps Tesla underwrite charging station expenses." Because if you take a look at Tesla's sales, they are concentrated mainly on the coasts. It's now going to be a lot easier for Tesla to deploy charging stations across the country.
Do you own or have owned a Tesla vehicle? What do you think about Tesla allowing EV owners from other brands to use its Supercharger network. Let us know by emailing CThompson@insider.com.
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By: CThompson@insider.com (Cadie Thompson)
Title: Tesla owners will hate waiting in charging lines behind Ford and GM cars, analyst says
Sourced From: www.businessinsider.com/tesla-owners-hate-waiting-to-charge-ford-gm-electric-cars-2023-6
Published Date: Mon, 12 Jun 2023 17:27:04 +0000
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