Volkswagen May Join Other Players - It's In Talks with Tesla to Adopt North American Charging Standard
Volkswagen AG (OTC: VWAGY) is in discussion with Tesla, Inc (NASDAQ: TSLA) to leverage its North American Charging Standard (NACS) technology. The German automaker's charging network unit Electrify America has already agreed to employ the system.
Several automakers and charging equipment makers zeroed in on Tesla's charging design on fears of losing out from the sole availability of the Combined Charging System (CCS) design backed by automakers like Volkswagen and Hyundai Motor Co, Ltd (OTC: HYMTF).
Ford Motor Co (NYSE: F), General Motors Co (NYSE: GM), and ChargePoint Holdings, Inc (NYSE: CHPT) are among the companies that have signed up for Tesla's charging design, Reuters reports
Volkswagen Group and its brands are evaluating implementing the Tesla North American Charging Standard (NACS) for its North American customers.
Electrify America, Volkswagen's EV charging network unit, has over 850 charging stations with about 4,000 chargers in the U.S. and Canada.
During the NACS transition, Electrify America will continue to offer the CCS connector.
Tesla, meanwhile, has expanded beyond its connectors to include CCS at some of its U.S. charging stations as the U.S. government doles out subsidies to expand charging networks.
Price Action: TSLA shares traded higher by 0.30% at $258.92 premarket on the last check Friday.
Photo via Wikimedia Commons
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