Subsidiaries of German automak-To The Moon - Tiger Brokers Online Investing Community - To The Moon

Subsidiaries of German automaker Volkswagen AG (OTCPK: VWAGY) on Tuesday became the latest automakers to adopt EV giant Tesla Inc's (NASDAQ:TSLA) proprietary North American Charging Standard (NACS).

What Happened: Electric vehicles of Volkswagen, Audi, Porsche and Scout Motors will incorporate Tesla's charging starting in 2025 for products designed for the North American market in a bid to gain access to Tesla's supercharger network with over 15,000 superchargers. The brands are also considering an adapter for existing vehicles with only a combined charging system (CCS) port, they said in a collective statement.

Talking about the new partnership, the President and CEO of Volkswagen Group of America said, "It would mean that customers of our fast-selling electric vehicles like the Volkswagen ID.4 will have access to an extensive and growing charging network."

Why It Matters: Tesla responded to the newly announced partnership by welcoming the automakers onboard and noting that while only one automaker was committed to NACS in 2022, there are now 28.

Automakers committed to the North American Charging Standard (NACS) in 2022: 1

Automakers committed to NACS in 2023: 28

Thank you for joining our vision to improve charging experiences for all EV drivers!

— Tesla (@Tesla) December 20, 2023

Ford Motor Co (NYSE:F) was the first major automaker to sign up to adopt NACS in May. Several others have joined since including General Motors Co, Rivian Automotive Inc and Volvo Group, among others.

Chrysler parent Stellantis NV, however, has not announced its intentions to incorporate the charging standard to date.

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Talking about the new partnership, the President and CEO of Volkswagen Group of America said, \"It would mean that customers of our fast-selling electric vehicles like the Volkswagen ID.4 will have access to an extensive and growing charging network.\" Why It Matters: Tesla responded to the newly announced partnership by welcoming the automakers onboard and noting that while only one automaker was committed to NACS in 2022, there are now 28. Automakers committed to the North American Charging Standard (NACS) in 2022: 1 Automakers committed to NACS in 2023: 28 Thank you for joining our vision to improve charging experiences for all EV drivers! — Tesla (@Tesla) December 20, 2023 Ford Motor Co (NYSE:F) was the first major automaker to sign up to adopt NACS in May. Several others have joined since including General Motors Co, Rivian Automotive Inc and Volvo Group, among others. 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