Tesla stock did not respond to news of Tesla Supercharger stations opening up to other electric vehicles, but analysts applaud the move. Tesla has closed a nickel supply deal with the BHP Group.
Tesla shares (TSLA), which are down 7% since the beginning of the year, have barely reacted to the news of the opening of the Tesla Supercharger network for other electric vehicles this year, as reported by CEO Elon Musk on Twitter.
Having its own global network of more than 25,000 chargers around the world has always been seen as a great competitive advantage for Tesla. However, by providing access to other electric vehicles, the company is not inferior to its competitors, but simply follows the development of the electric vehicle industry.
When Tesla started producing its auto electric charging stations, it simply didn’t exist, if Tesla hadn’t built its network, it wouldn’t have received buyers.
Today, a number of companies have sprung up in the United States, China and Europe that have built universal charging stations, and some electric vehicle manufacturers are joining together to invest in a charging network.
Among the companies that intend to make money at their charging stations for electric vehicles of a wide range of automakers: Aerovironment, ChargePoint, Electrify America, Volta, eVgo, Sema and many others. In China and parts of Europe, the development of charging infrastructure has been even faster than in the United States.
Elon Musk said that Tesla Supercharger stations will become available for other electric vehicles in 2021, but did not specify in which cities and countries, and the prices that the company will set for them are also not known. Reuters previously reported that Tesla is in talks to create fast charging stations open to electric vehicles from other companies in Germany, Sweden and Norway.
Asked in which countries Tesla Superchargers will become available to other electric vehicles, Musk responded on Twitter on Wednesday that “over time in all countries.”
Given the pace of development in the electric vehicle industry, soon the availability of charging simply won’t be a competitive advantage for any company. Electric vehicle charging stations will eventually become as ubiquitous as regular gas stations in cities.
At the same time, this is great free advertising and a new constant stream of income for Tesla. Opening its charging network to everyone demonstrates that Tesla is interested in universal adoption of electric vehicles, and not just in selling its cars – this is a positive for the brand.
Shares’ weak reaction to the news can be explained by the fact that investors are awaiting Tesla’s financial report for the second quarter, which is due out on Monday, July 26 after the close of the market.
On Thursday, media reported that Tesla had struck a nickel supply deal with the BHP Group, as nickel is an essential component of electric vehicle batteries. Tesla has previously announced a global problem of limited nickel supply, which could hold back the pace of electric vehicle production. By entering into a nickel supply deal with the BHP Group, the company seeks to protect itself from a potential crisis and supply shortages.