Tesla Inc. TSLA is the frontrunner in the electric vehicle race and the company has built one impressive size and infrastructure in a capital-intensive industry that is difficult for others to emulate.
What happened: Customers driving non-Tesla EVs are clearly at a disadvantage, according to New Street Research Pierre Ferrague suggested in a tweet late Wednesday. He said they would be forced to hunt for a charger while their autonomy waned.
See also: The best stocks for electric vehicles
“They are victims, I will pray for them tonight,” he added.
Tesla can’t reasonably take more than 20-25% of the auto market, Perragu said, adding that other OEMs need to be successful. “May they soon find out how it starts,” he said.
Why it matters: Tesla offers various charging options, including wall outlets for home charging, destination charging stations for charging upon arrival at hotels, restaurants, etc., and Superchargers. The company owns and operates over 40,000 Superchargers worldwide, allowing users to stay charged on the go.
The superchargers can charge for trips up to 200 miles in 15 minutes and are inexpensive compared to gas consumption. The Tesla app shows the availability of the Supercharger booth and users simply plug in and charge automatically. The charging status can be monitored via the app.
McKinsey estimates that America would need 1.2 million public EV chargers and 28 million residential chargers by 2030, as the federal government aims for at least half of the vehicles sold to be EVs by that timeframe.
Tesla has also opened up its superchargers to other EV manufacturers to a limited extent.
The Biden administration’s Inflation Reduction Act 2022 has some provisions to incentivize the establishment of a charging network. This includes reviving the 30% credit for installing EV chargers and related equipment.
Old car manufacturers such as e.g Ford Motor Company f recruited them…
[ad_2]
Source story