Key things
- Tesla’s share price rose for the 12th time in a row on Monday, the longest winning streak in history, after several electric car charging station companies added Tesla connectors.
- Shares in Chargepoint Holdings, Blink Charging Company, Wallbox NV and Tritium DCFC Ltd were also acquired.
- The announcements came shortly after GM and Ford struck deals with Tesla over the chargers.
Tesla (TSLA)’s winning streak continued Monday as shares rose more than 2% after several electric vehicle (EV) charging firms announced they would offer Tesla-compatible devices.
Holding charge points (CHPT), Blink Charging Company (BLNK) and Wallbox NV (WBX) stated that their chargers will work with Tesla’s North American Charging Standard (NACS) connector. Australia’s Tritium DCFC Ltd. (DCFC) also stated that it will provide a NACS connector option with its chargers.
The moves come just days after General Motors (GM) struck a deal with Tesla that would give GM cars the ability to use Tesla’s fast charging stations. Ford (F) struck a similar deal with Tesla last month.
Analysts said the decisions give Tesla a growing lead over its rival Combined Charging System (CCS) and suggest that the North American market may soon move to a single standard for charging electric cars.
Blink CEO Brendan Jones said that with the recent agreements between Tesla and GM and Ford, “we are clearly seeing the EV charging industry continue to evolve as technology advances and stakeholders come together and evaluate best practices.
It was the 12th consecutive advance for Tesla stock, a record winning streak for the company. Shares in Chargepoint Holdings, Blink Charging Company, Wallbox NV and Tritium DCFC Ltd were also acquired.
YCharts