Stations for electric cars

Tesla shares have not reacted to news of the opening of Tesla Supercharger stations for other electric vehicles, but analysts are welcoming the move. Tesla has struck a nickel supply deal with BHP Group.

Tesla (TSLA) shares, down 7% since the start of the year, had little reaction to the news of Tesla opening a Tesla Supercharger network for other electric vehicles as early as this year, CEO Elon Musk said on Twitter.

Having its own global network of more than 25,000 chargers around the world has always been seen as a big competitive advantage for Tesla. However, by providing access for other electric vehicles, the company is not inferior to its competitors, but simply follows the evolution of the electric car industry. When Tesla started producing its cars electric charging stations simply didn't exist, if Tesla hadn't built its network, it wouldn't have gotten customers.

Today, a number of companies have emerged in the US, China and Europe that have built universal charging stations, with some electric car manufacturers teaming up to invest in a charging network. Among the companies that intend to capitalise on their charging stations for a wide range of electric vehicles are Aerovironment, ChargePoint, Electrify America, Volta, eVgo, Sema and many others. In China and parts of Europe, the development of charging infrastructure has been even faster than in the US.

Elon Musk said Tesla Supercharger stations will become available for other electric vehicles in 2021, but did not specify in which cities and countries, nor is it known what prices the company will set for them. Reuters previously reported that Tesla is in talks to set up fast charging stations open to electric cars from other companies in Germany, Sweden and Norway.

Also, on Thursday, the media reported that Tesla had struck a deal to supply nickel to BHP Group, as nickel is an essential component of electric car batteries. Tesla had earlier claimed a global problem of limited nickel supply, which could hamper the pace of production of electric cars. By entering into a nickel supply deal with BHP Group, the company seeks to protect itself against a potential crisis and supply shortage.