Elon Musk Says Tesla To Open Supercharger Network To Other EVs Later This Year

Tesla IncTSLA 2.21%CEO Elon Musk said on Tuesday the electric vehicle maker was the first to create a charging system with capabilities to handle both low and high-power charging connections at a time when it was the only company making long-range electric vehicles.

What Happened:Musk tweeted to say there was no standard design during the early days and it created a simple dual-purpose connector, adding that its Supercharger network will open to other electric vehicles later this year.

“It’s one fairly slim connector for both low and high power charging,” Musk responded to a Twitter post supporting Tesla’s proprietary charging connector.

Why It Matters: Tesla connectors are different from other recent electric vehicle automakers and charging companies. The Palo Alto, California-based company also has a huge head start in terms of the supercharger network that it is laying out globally.

Tesla’s vast charging network is so far mostly exclusive to Tesla owners. The company has however in the past indicated that it is open to the idea of sharing the Supercharger network with other automakers.

As per earlier reports, Tesla planned to begin opening up its Supercharger network to rival electric automakers starting September 2022.

Amid rising competition, Tesla has quickly deployed more than 25,000 chargers at over 2,700 stations around the world.

So far, other electric vehicles can turn to third-party networks such as Ionity,Volkswagen AG’s VWAGY 1.7% Electrify America or ChargePoint Holdings CHPT 4.52% for charging.

At the same time, rivals such asNio IncNIO 1.94%andXpeng IncXPEV 2.64%who are now eyeing expansion to Europe and the United States, have developed their own charging networks and are scaling up presence in China, a key market for Tesla’s growth.

Price Action: Tesla shares closed 2.21% higher at $660.50 on Tuesday.