(Source from Reuters/Alamy)
Tesla already generates more than $80 billion in annual sales from the operation of charging stations. However, Tesla recently signed an agreement with U.S. automakers Ford and GM, respectively, to allow Ford electric vehicle owners to use Tesla’s rapid charger (supercharger) in the U.S. and Canada from early next year.As a result, a new car that can be directly connected to the Tesla supercharger without an adapter will be developed within the next two to three years. Currently, Ford and GM electric vehicles must use adapters to use Tesla superchargers. In a related development, investment bank Piper Sandler estimated that Tesla will be able to earn $3 billion from next year to 2030 and $5.4 billion by 2032, thanks to charging station contracts with Ford and GM. Just as Tesla has grown rapidly by earning billions of dollars by selling credits granted to carbon-free companies over the past decade, it predicted that its competitors’ charging station fees will contribute greatly to Tesla’s growth. More importantly, as both Ford and GM have decided to use Tesla charging stations, Tesla’s charging method is more likely to be adopted as a U.S. standard.If adopted as a U.S. standard, it is likely to become a world standard. This is why charging stations, not electric vehicles, are predicted to be Tesla’s best hit products. Tesla currently has about 45,000 charging stations worldwide. Tesla has more than 20,000 charging stations in the United States alone. The U.S. market share is 71%.
The share of electric vehicles in the U.S. auto market is only 7.6% as of 2022. However, experts believe the market share will soar to 28 percent by 2026.Tesla’s profits are expected to increase exponentially as its electric vehicle share rises.Tesla shares are rising day after day. On the New York Stock Exchange on the 9th, Tesla soared 4.06% from the previous trading day to USD 244.40.As a result, Tesla’s stock price hit its highest level since September last year, continuing its rally for 11 consecutive days. The 11-day rally is the second-longest rally in Tesla’s history. Tesla’s stock price has soared 98 percent this year. Currently, Tesla’s market capitalization is $774.6 billion.
KS CHOI
US ASIA JOURNAL
