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A step from “Tesla” may help its competitors and earn $ 7.5 billion from it!

The News GlorybyThe News Glory
16/02/2023
A step from “Tesla” may help its competitors and earn $ 7.5 billion from it!

Tesla announced the opening of 7,500 electric chargers to other electric cars from its competitors in America, after it received a grant of about $ 7.5 billion from the Biden administration.

The Biden administration seeks to install and operate at least 500,000 electric car chargers on US roads by 2030, out of the 130,000 current chargers.

And it began announcing a set of plans and projects to achieve this, and it also announced a list of initiatives and financial incentives, including formal commitments from companies that build and operate charging networks such as Tesla, General Motors, ChargePoint and others, and in return these companies will reap the benefits of federal funding. If its infrastructure projects meet new federal standards, which were revealed on Wednesday.

President Biden applauded Tesla’s commitment to opening 3,500 new superchargers along highway lanes to electric cars from competitors by late 2024.

Tesla will also offer 4,000 regular chargers in hotels and restaurants.

And so far in America, Tesla Supercharging stations are basically available for Tesla cars only.

While some believe that this step may undermine the competitive advantage of Tesla, others see the seven and a half billion dollar grant allocated by the Biden administration to build more electric car charging stations.

It may become the share of another competing company and thus advance in the US supercharger market, of which Tesla controls 60%, as it owns about 17,700 superchargers.

Investors and electric car enthusiasts in the United States have been waiting for this step from Elon Musk, CEO of Tesla, for two years, as he tweeted in 2021, saying, “Tesla’s charging network is not to hit our competitors.”

The company has opened some of its superchargers in Europe and Australia to non-Tesla owners since then.

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