White House welcomes Tesla to take advantage of federal dollars
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The White House on Friday said electric-vehicle charging stations using Tesla standard plugs would be eligible for billions of dollars in federal subsidies as long as they included the U.S. charging standard connection, CCS, as well.
The statement follows separate announcements by U.S. automakers Ford Motor and General Motors that they were adopting the Tesla model of charging, known as the North American Charging Standard (NACS). The moves shake up a charging industry that looked like it was drifting toward the rival CCS connection, with the help of federal subsidies.
This is the first time the Biden administration has directly connected Tesla to its efforts to spend up to $7.5 billion to build new, high-speed chargers on some 7,500 miles of the nation's busiest highways.
Tesla shares jumped 5 per cent on Friday and analysts said the Ford and GM news is a big win that could make Tesla Superchargers an industry standard in the United States. GM and Ford shares were both up about 1.5 per cent on Friday afternoon.
