Key Takeaways
- Tesla's stock price rose on Monday for the 12th straight session, in its longest winning streak on record after several EV charging station firms added Tesla's connectors.
- Shares of Chargepoint Holdings, Blink Charging Company, Wallbox NV, and Tritium DCFC Ltd. all gained as well.
- The announcements came shortly after GM and Ford struck deals with Tesla over chargers.
Tesla's (TSLA) winning streak continued on Monday as shares rose over 2% after several firms involved in electric vehicle (EV) charging announced they would offer equipment compat💖ible with Tesla’s.
Chargepoint Holdings (CHPT), Blink Charging Company (BLNK), and Wallbox NV (WBX) indicated their chargers would work with Tesla’s North American Charging Standard (NACS) connector. Australia’s Tritium DCFC Ltd. (DCFC) also said it would provide an NACS connector option w♌ith its char🔥gers.
The moves come just days after General Motors (GM) made an agreement with Tesla that would give GM cars the ability to use Tesla’s fast-charging stations. Ford (F𓄧) stuck a si⭕milar arrangement with Tesla last month.
Analysts said the decisions give Tesla an increasing edge over the competing Combined Charging System🤪 (CCS), and sugg𒅌est the North American market may soon be moving to a single standard for EV charging.
Blink CEO Brendan Jones said that given the recent deals between Tesla and GM and Ford, “we are clearly witnessing the continued evolution of the EV charging industry as technologies advance and industry stakeholders come together and evaluate best practices.”
It was the 12th consecutive session shares of Tesla advanced, a record winning streak for the company. Shares of Chargepoint Holdings, Blink Charging Company, Wallbox NV, and Tritium DCFC Ltd. all gained as well.
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