Tesla’s stock experienced a remarkable surge of over 4% today as automakers are increasingly interested in securing access to the renowned Supercharger network for their electric vehicle (EV) owners. This development signifies a domino effect initiated by the North American Charging Standard (NACS), gaining substantial momentum with Rivian’s recent decision to join the network. Consequently, Tesla’s connector is solidifying its position as the prevailing standard across North America, consequently bolstering the company’s stock performance.
Despite already holding the esteemed status of the world’s most valuable automaker, Tesla’s stock has achieved a remarkable 50% increase in value over the past month alone. The surge of over 4% observed today is attributed to Rivian’s endorsement of NACS, which provides further validation for Tesla’s Supercharger network. Financial institution Morgan Stanley has estimated that this charging infrastructure could exceed a value of $100 billion by 2030, emphasizing its substantial potential.
The recent announcements from Rivian, General Motors (GM), and Ford unmistakably reveal their shared objective of securing access to Tesla’s Supercharger network for their respective EV owners. In its announcement, Rivian emphasized the advantages of adopting the North American Charging Standard, highlighting the opportunity for its customers to leverage Tesla’s extensive Supercharger network while the company simultaneously expands its own Rivian Adventure Network. Rivian, having followed a charging strategy akin to Tesla’s with its Adventure network, currently operates a modest number of 36 charging stations compared to Tesla’s impressive count of 2,000 stations throughout North America.
With the implementation of NACS, Rivian EV owners will soon gain access to Tesla’s Supercharger stations through an adapter initially, and subsequently through a direct connector integrated into new Rivian vehicles beginning in 2025, mirroring the plans of Ford and GM. This integration marks a significant step forward in fostering electric vehicle adoption. The growing recognition and utilization of Tesla’s Supercharger network serve as a testament to its value within the EV industry, solidifying Tesla’s position as a key player in the market.
