Elon Musk convinced the car charging industry his way, and Tesla owners are the biggest winners

• Some Tesla drivers worry that the EV maker’s sharing of plugs will affect their charging experience.
• But in reality, Tesla drivers will likely have more places to grow in the future.
• Other charging providers will have to provide Tesla’s technology, and Tesla is likely to develop further.

Tesla drivers are about to have more places to plug in.

Naturally, some Tesla owners worried about sharing space at Supercharger stations — key perennial difference between Tesla and other electric vehicle manufacturers – once Ford And GM EV drivers have access.

But experts say crowds could thin out as more non-Tesla stations switch by Elon Musk North American charging standard connector (NACS). With the new revenue achieved from additional users, Tesla will also have the means to expand the network further from the approximately 20,700 plugs already in North America.

The auto industry has struggled for years to agree on charging standards for electric vehicles, and it looks like Tesla has finally won the battle. Other majors charging suppliers like Electrify America, Blinkand other big names will soon be able to accommodate Teslas.

Loren McDonald, CEO of market analysis firm EVAdoption, told Insider: “All of this is happening because automakers are fed up with the experience and reliability of charging networks. fast not Tesla’s.”

“The foundation of this, and the reason why we’re seeing more and more automakers announce that they’re doing this, is because they’ve essentially realized how important the charging experience is to the ability to sell your electric car,” McDonald added, “but at the same time keep current customers happy and keep them so that three or four years later, they buy another electric car from you.”

Teslas always use the NACS connector, which is the only connector compatible with Booster network. Ford, GM and Rivian all recently announced that their vehicles will soon also be equipped with NACS connectors, all but forcing other charging companies to adopt the standard in order to conform.

Growth trajectory

The Supercharger network is already the most powerful fast charging network globally. In the first quarter of 2023, the number of stations increased 33% to 4,947 from 3,724 the previous year. The number of charging plugs increased at roughly the same rate, reaching 45,169 in March.

It’s now likely that the new revenue will allow Tesla to push the charging business even further — further assuring Tesla owners that network exclusivity and charging capabilities won’t be lost when Others join in the fun.

Cathie Wood, Ark Invest CEO, told CNBC in a June interview that, “What’s interesting about this is that it helps Tesla pay the cost of the charging station.” Wood is a notorious Tesla bull, with a $2,000 price target for Tesla stock in 2027.

“If you look at Tesla sales, they are highly concentrated in the coastal regions,” says Wood. “Now, it makes much more sense for Tesla to roll out much faster charging stations across the country.”

“Tesla is very smart, isn’t it? Tesla has a lot of data,” McDonald added. “This whole concept would be a failed exercise if suddenly, two years from now, people had to wait 30 minutes at hundreds of Superchargers because of all the other automakers. I just I don’t think Tesla will allow that.”

Infrastructure is key to EV . adoption

Than charger, whether from Tesla or a third-party supplier, will only mean more buyers. Experts told Insider that number is huge for the industry as a whole. It’s also a big win for Tesla as the company matures from a rudimentary startup to a mass producer. Electric Car.

Adding to its already powerful Supercharger network will add Tesla enters the mass market this yearinclude discounts and more traditional packages. So far, Tesla’s plan to operate like a normal car company is in the works; it reported another record for deliveries in the second quarter.