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Fisker (FSR) Signs Deal With Tesla to Adopt NACS Connector
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Following the lead of other automakers, Fisker Inc. has signed an agreement with Tesla, Inc. (TSLA - Free Report) to incorporate North American Charging Standard (NACS) connectors on its electric vehicles starting in 2025. The agreement will provide Fisker’s customers with an additional charging option by offering them access to Tesla’s 12,000 Supercharger stations in the United States and Canada. All existing and future vehicles will be covered by this agreement.
NACS adapters will be provided to Fisker’s owners to plug in at Superchargers across the United States and Canada starting in Q1 2025. Fisker plans to later update vehicle engineering to incorporate NACS inlets. After updating the vehicle’s engineering, a CCS adapter will be provided to owners, giving them access to electric vehicle (EV) chargers with that standard.
Earlier, auto giants like Ford, General Motors and Rivian joined hands with Tesla to integrate its NACS connector into their respective electric vehicles. EV charging solution providers like EVgo, Tritium, Blink and ABB have added Tesla’s connectors as an option to their units.
Building on this progress, SAE International announced in June that it will make Tesla NACS a standard connector in the country. The adoption by SAE will make the implementation of ports easier for charging station manufacturers and operators. It will also make the process of charging 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 50,000 superchargers worldwide. The standardization of the NACS connector is paving the way for the adoption of a single connector across EVs.
The Zacks Consensus Estimate for OSK’s 2023 sales and earnings implies year-over-year growth of 13.5% and 120.2%, respectively. The EPS estimate for 2023 has moved north by $1.52 in the past 30 days. The 2024 EPS estimate has moved up by $1.43 in the past 30 days.
The Zacks Consensus Estimate for TM’s 2023 sales and earnings implies year-over-year growth of 10.7% and 27.6%, respectively. The EPS estimate for 2023 has increased by 97 cents in the past 30 days. The 2024 EPS estimate has moved up by $1.64 in the past 30 days.
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Fisker (FSR) Signs Deal With Tesla to Adopt NACS Connector
Following the lead of other automakers, Fisker Inc. has signed an agreement with Tesla, Inc. (TSLA - Free Report) to incorporate North American Charging Standard (NACS) connectors on its electric vehicles starting in 2025. The agreement will provide Fisker’s customers with an additional charging option by offering them access to Tesla’s 12,000 Supercharger stations in the United States and Canada. All existing and future vehicles will be covered by this agreement.
NACS adapters will be provided to Fisker’s owners to plug in at Superchargers across the United States and Canada starting in Q1 2025. Fisker plans to later update vehicle engineering to incorporate NACS inlets. After updating the vehicle’s engineering, a CCS adapter will be provided to owners, giving them access to electric vehicle (EV) chargers with that standard.
Earlier, auto giants like Ford, General Motors and Rivian joined hands with Tesla to integrate its NACS connector into their respective electric vehicles. EV charging solution providers like EVgo, Tritium, Blink and ABB have added Tesla’s connectors as an option to their units.
Building on this progress, SAE International announced in June that it will make Tesla NACS a standard connector in the country. The adoption by SAE will make the implementation of ports easier for charging station manufacturers and operators. It will also make the process of charging 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 50,000 superchargers worldwide. The standardization of the NACS connector is paving the way for the adoption of a single connector across EVs.
Zacks Rank & Key Picks
FSR currently carries a Zacks Rank #3 (Hold).
Some top-ranked players in the auto space include Oshkosh Corporation (OSK - Free Report) and Toyota Motor Corporation (TM - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for OSK’s 2023 sales and earnings implies year-over-year growth of 13.5% and 120.2%, respectively. The EPS estimate for 2023 has moved north by $1.52 in the past 30 days. The 2024 EPS estimate has moved up by $1.43 in the past 30 days.
The Zacks Consensus Estimate for TM’s 2023 sales and earnings implies year-over-year growth of 10.7% and 27.6%, respectively. The EPS estimate for 2023 has increased by 97 cents in the past 30 days. The 2024 EPS estimate has moved up by $1.64 in the past 30 days.