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Tesla (TSLA) NACS to Become a Part of Electrify America
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With Electrify America, one more company has stepped forward to make Tesla’s (TSLA - Free Report) North American Charging Standard (NACS) connector a charging standard in North America.
Electrify America, a subsidiary of Volkswagen AG (VWAGY - Free Report) , is an electric vehicle (EV) DC fast charging station network in the United States.
Electrify America said that it will add Tesla NACS connectors to Electrify America and Electrify Canada’s fast charging networks by 2025. The company also added that it has no plans to remove the existing Combined Charging System (CCS-1) connectors from its network. The CCS plug will continue to operate alongside the NACS connector in Electrify America’s charging network.
The Volkswagen subsidiary currently has 850 charging stations and 4,000 individual charger units in the United States and Canada. It currently operates stations in 46 states across the United States.
The announcement came just one day after Blink Charging Co. (BLNK - Free Report) announced to incorporate NACS plugs into its product line to meet the charging needs of EV drivers, irrespective of the model. Besides Blink, another electric vehicle charging network operator, ChargePoint Holdings, Inc. (CHPT - Free Report) , with a presence in North America, Europe and Australia, announced to add NACS to its existing and future charging networks.
Last year, Tesla shared the NACS connector design with charging network operators and automakers to encourage them to adopt the technology and avail their help to make the connector a new charging standard in North America.
Since the last month, auto giants like General Motors, Ford, Volvo and Rivian have signed collaboration agreements with Tesla to integrate NACS plugs into their electric vehicles.
Moreover, the Society of Automotive Engineers (SAE) has already expedited its efforts to make NACS a standard connector in North America to enhance the country’s charging infrastructure. The adoption by SAE will make the implementation of ports easier for charging station manufacturers and operators. It will also make the charging process more consistent and reliable for EV owners.
Most American states, including Texas and Washington, have adopted the NACS connector as a standard and it has also become necessary to qualify for state funding.
Tesla already has over 45,000 supercharger stations at over 5,000 sites worldwide. Acceptance of NACS by charging network operators and automakers is paving the way for the adoption of a single connector across EVs.
Zacks Rank & Key Picks
While VWAGY carries a Zacks Rank #2 (Buy), TSLA, BLNK and CHPT currently carry a Zacks Rank #3 (Hold).
Image: Bigstock
Tesla (TSLA) NACS to Become a Part of Electrify America
With Electrify America, one more company has stepped forward to make Tesla’s (TSLA - Free Report) North American Charging Standard (NACS) connector a charging standard in North America.
Electrify America, a subsidiary of Volkswagen AG (VWAGY - Free Report) , is an electric vehicle (EV) DC fast charging station network in the United States.
Electrify America said that it will add Tesla NACS connectors to Electrify America and Electrify Canada’s fast charging networks by 2025. The company also added that it has no plans to remove the existing Combined Charging System (CCS-1) connectors from its network. The CCS plug will continue to operate alongside the NACS connector in Electrify America’s charging network.
The Volkswagen subsidiary currently has 850 charging stations and 4,000 individual charger units in the United States and Canada. It currently operates stations in 46 states across the United States.
The announcement came just one day after Blink Charging Co. (BLNK - Free Report) announced to incorporate NACS plugs into its product line to meet the charging needs of EV drivers, irrespective of the model. Besides Blink, another electric vehicle charging network operator, ChargePoint Holdings, Inc. (CHPT - Free Report) , with a presence in North America, Europe and Australia, announced to add NACS to its existing and future charging networks.
Last year, Tesla shared the NACS connector design with charging network operators and automakers to encourage them to adopt the technology and avail their help to make the connector a new charging standard in North America.
Since the last month, auto giants like General Motors, Ford, Volvo and Rivian have signed collaboration agreements with Tesla to integrate NACS plugs into their electric vehicles.
Moreover, the Society of Automotive Engineers (SAE) has already expedited its efforts to make NACS a standard connector in North America to enhance the country’s charging infrastructure. The adoption by SAE will make the implementation of ports easier for charging station manufacturers and operators. It will also make the charging process more consistent and reliable for EV owners.
Most American states, including Texas and Washington, have adopted the NACS connector as a standard and it has also become necessary to qualify for state funding.
Tesla already has over 45,000 supercharger stations at over 5,000 sites worldwide. Acceptance of NACS by charging network operators and automakers is paving the way for the adoption of a single connector across EVs.
Zacks Rank & Key Picks
While VWAGY carries a Zacks Rank #2 (Buy), TSLA, BLNK and CHPT currently carry a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.