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Tesla Motors Inc (NASDAQ:TSLA) Open To Sharing Superchargers

Tesla Inc (NASDAQ:TSLA) SuperCharger Station

Tesla Motors Inc knows that as charging stations become more common and easy to use that EVs will become more attractive to the buyers, and this is the reason it has created a huge Supercharger network of its own. Tesla Supercharges, which charge faster than other EV chargers, could be open to the cars of other brands soon, says a report from Gas2.

Tesla (NASDAQ:TSLA) SuperCharger Station

Sharing Supercharges. Issues involved?

“We are actually in talks with some manufacturers doing just that and it will be exciting to share that news,” Tesla CEO Elon Musk said. Musk also said that it is a European firm and not a German.

Such an idea of sharing raises several questions, and the most important is – Do Tesla has enough of such chargers to share with other brands without making its users wait? Answer to this question, depends majorly on the speed with which the EVs making using such chargers get charge. If the cars take less than an hour just like the Tesla Model S, then it is one thing. In case, they have smaller batteries taking less time to charge then it’s great. But, if they take hours to charge, then the ability of Tesla users to recharge when needed will be impeded, leaving Tesla drivers annoyed and agitated.

Tesla’s wide Supercharger network is a major reason for buying Tesla Motors Inc cars. Driving range of the car from other brands is another issue that could affect the viability of sharing. Tesla Model S vehicles have a range of 200+ mile, and therefore, they do not need to be recharged very often.

Tesla CEO happy with growing competition

Along with sharing Superchargers, Tesla CEO is also encouraging rivals to come up with more electric cars. Tesla has a number of rivals, who are close to launching electric cars of their own. Surprisingly, Musk is not flinching rather he is happy with the competition. Musk wishes that the big car firms soon put the pedal to the metal.

“I’m glad to see these announcements of these other companies,” Musk said in an interview with the Danish newspaper Borsen, adding “I hope they move even faster than they announce.”

On Monday, Tesla Motors Inc shares closed down 3.30% at $248.43. Year to date, the stock is up almost 12% while in the last one-year, they are up only 1%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.

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