Ford Motor Co. reached an agreement with rival Tesla Inc. to give your customers electric vehicles access to the red Tesla Supercharger, a step toward a single industry standard to simplify charging.
the vehicles Ford F-150 Lightning, Mustang Mach-E and E-Transit you’ll be able to recharge at 12,000 Superchargers in North America starting next year, using an adapter. Ford’s next-generation electric vehicles, starting in 2025, will have Tesla’s charging capability built-in.
The association becomes Ford the first major automaker to adopt the so-called North American Freight Standard from Tesla, giving its customers access to the largest, fastest and most reliable network of electric vehicle chargers. Access to reliable charging is a top concern among those interested in buying an EV.
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“The agreement can alleviate consumer concerns on the availability and reliability of chargers in the US.” cijo kevin tynan, a Bloomberg Intelligence analyst, in a note. The move may represent a “step back” for other companies in the electric vehicle charging market.
Ford shares rose 4% at 10:10 a.m. on Friday in New York, while Tesla’s rose 2.8%. Charging companies including EVgo Inc., Blink Charging Co. and ChargePoint Holdings Inc. each fell at least 2% before slowing declines.
“We are really excited to work” with Tesla, Ford CEO said jim farley in a Spaces on Twitter with Elon Musk Thursday. Both characterized the partnership as helping to improve the adoption of electric vehicles. Musk is the CEO of Tesla and owner of Twitter.
Ford said that for customers to use Superchargers next year, it will also you will need to update the software and make a payment. Musk said the charging adapters would not be “prohibitive in cost,” though neither CEO gave an exact price.
Farley said Ford customers could still use their old chargers, known as Combined Charging System connectors.
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The association is “a big obvious win for Ford” by giving its clients convenience when charging, Tom Narayan, an analyst at RBC Capital Markets, said in a note. For Tesla, it can help speed up EV adoption and potentially qualify it for more federal funding, he said.
Tesla leads the way
In a blog post in November, Austin-based Tesla said its standard charging is now the most common in North America, with a network twice the size of the Combined Charging System network. In February, the Musk-led EV maker said it would give other car companies more access to its chargers by the end of 2024.
Farley and Musk also praised each other for their respective companies, with the Ford CEO saying he wanted his company’s electric vehicles to be fully available for software updates, just like Tesla vehicles.
“It is very difficult what Tesla has done”Farley said. “And I totally respect them.”
Tesla controls almost 60% of the US electric vehicle market. and Ford was a distant second last year. Farley has said his goal is to eventually overtake Tesla.
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