(MENAFN- Baystreet)
eBay Stock Surges After Q4 earnings
Presto Declines on New Purchase Agreement
Mental
health Treatments Demand Jumps, Hims & Hers Slouches
Workday Stock Dips After Q4 Earnings
Unity Stock Suffers Post-Earnings Decline Previous Articles Subscribe to Get Small Cap News & Alerts
Glenn Wilkin - Friday, March 1, 2024
Tesla to Open Charging Stations in Lucrative Deal As of Thursday, owners of Ford (NYSE:F) electric vehicles - the Mustang Mach-E and F-150 Lightning - in North America finally have the ability to power up using Tesla Superchargers.
Ford CEO Jim Farley wrote in a post on LinkedIn that the charging partnership, which involves use of fast-charging adapters, should“improve the EV ownership experience,” for Ford EV drivers, noting that“I've tested it myself and its works great.”
Tesla has forged a similar agreement with General Motors (NYSE:GM), which was announced in June, giving GM customers access to more than 12,000 Tesla fast chargers in the U.S and Canada. GM CEO Mary Barra said at the time that her company expected to save up to $400 million of a planned investment in building out EV charging stations.
The partnerships mark a strategy shift for Tesla (NASDAQ:TSLA) CEO Elon Musk, who for years touted the exclusivity of Tesla's charging network and his company's ability to build reliable charging locations that would keep consumers from sitting in long lines. Becoming the charging standard has required Tesla to invest heavily in technical and business development.
But Tesla has plenty to gain from working with others.
Sam Fiorani, vice president for global forecasting at AutoForecast Solutions, said these efforts should eventually yield huge financial benefits for Tesla, including from environmental credits and fees for charging sessions.
TSLA shares faltered $2.09, or 1%,, to $199.79, while Ford nicked ahead five cents to $12.48, and GM shed 21 cents to $40.77.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN01032024000212011056ID1107922755
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.