Ford CEO says Tesla Superchargers may become the standard for EV charging

Ford CEO says Tesla Superchargers may become the standard for EV charging

26 May    Finance News, PMN Business, REU

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Ford CEO Jim Farley said Tesla’s Superchargers may become the standard for EV charging in the U.S., a day after the Michigan-based company struck a deal allowing Ford owners to gain access to the rival charging stations in North America.

“I think there’s a chance you know,” Farley said on Friday in response to a question on CNBC on whether Tesla Superchargers will become the standard for EV charging.

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Ford shares were up 7.8% at $12.27, while Tesla rose 3.7% to $191.30.

Farley told CNBC that General Motors and other automakers are going to “have a big choice to make” in selecting between Tesla’s EV chargers and the Combined Charging System (CCS).

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CCS is one of several competing charging plug standards for DC fast charging.

“The CCS standard plays a crucial role in establishing an extensive network of fast charging stations across North America,” General Motors said.

Since 2012, Tesla has developed and deployed its own high-speed vehicle charger, called Supercharger, which can add up to 322 miles (518 km) of range in just 15 minutes.

Farley told CNBC on Friday that Ford had about 10,000 fast chargers and the agreement with Tesla will “double that.”

Ford EV owners will stick to the company’s own software while using a Supercharger instead of using Tesla software, which would have been a “deal breaker” for Ford, Farley told CNBC. (Reporting by Shivansh Tiwary in Bengaluru; Editing by Shounak Dasgupta)

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