Tesla CEO Elon Musk bared on Tuesday that the automaker will open its network of DC fast-charging stations for electric vehicles, called the Tesla Supercharger network, to other EV brands and types later this year.
Tesla Stock Price Up Over Expected Strong Earnings
Such move could certainly boost Tesla stock price due to this fresh revenue stream, as the automaker is expected to reveal a strong earnings report on July 26. Yahoo! Finance expected quarterly earnings of $0.90 per share, a 104.6 percent year-over-year change. Revenues are also expected to be up $11.39 billion up 88.7 percent from the same quarter last year.
Tesla (TSLA) is up 2.21 percent, closing at $660.50 per share on Tuesday in the Nasdaq stock exchange.
In a reply to a Tesla fan on Twitter, Musk tweeted making the "Supercharger network open to other EVs" in the coming months.
We created our own connector, as there was no standard back then & Tesla was only maker of long range electric cars.— Elon Musk (@elonmusk) July 20, 2021
It’s one fairly slim connector for both low & high power charging.
That said, we’re making our Supercharger network open to other EVs later this year.
Elon Musk, however, did not mention the locations of these supercharger stations for other EVs, or what type EVs could support Tesla's 2021 chargers. He did emphasize that Tesla would make the Supercharger stations available to other EVs and in other countries.
Tesla touted a distinct, enormous benefit for owners of its vehicles, having exclusive charging stations on the road.
Most EVs on the road utilize the industry-standard J1772 connectors for Levels 1 and 2 charging or the Combined Charging System (CCS) for DC fast charging, Roadshow by Cnet noted. Mitsubishi and Nissan have pushed the CHAdeMO DC fast-charging service that may be phased out in favor of a transition to CCS.
But Tesla's connectors and ports are quite different from other EVs. It has a slim connection open for both low and fast charging, with a smaller footprint.
Tesla Supercharger Stations Offer Immense Benefits
In addition, drivers of Tesla cars can use the Supercharger network without any membership fee and would pay for the charging service by the minute or per kilowatt hour, depending on local laws. Tesla can actually charge at any EV station using adaptor cables, such as the J1772 adapter for Level 2 stations and a large adapter for CHAdeMO stations, but the newer, Level 3 Supercharger network offers Tesla owners a distinct advantage.
Likewise, Tesla has since expanded the Supercharger infrastructure nationwide for better access and convenience.
The newer connectors at Tesla Supercharger stations are incompatible with other EVs, and this would make the charging process more convenient for Tesla drivers, given the shorter lines, and frequent availability of chargers.
Challenges to Making Supercharger Stations Compatible to Other EVs
Making the network available to other EV brands would not be simple, with Tesla needing to revamp its stations to make it compatible with non-Tesla vehicles, Engadget stressed in a post. This would require a secure software handshake between the non-Tesla car and a Tesla Supercharger.
While this may prove to be challenging in the US, the transition might easier to execute in Europe, where Tesla has been using standard CCS connectors. In June, there were reports that Tesla has been in discussions with local officials in Norway to deploy charging stations for non-Tesla EVs by the third quarter of 2022. Similar talks are ongoing in Germany to make sure that the Supercharger stations would open up to non-Tesla vehicles.