Tesla is opening up its EV charging network to competitors. 7,500 Superchargers will be available to all EVs in the U.S. by the end of 2024. And Tesla committed to providing thousands more by 2030. As a result, competitors like Rivian and Ford will soon be able to use Tesla’s Superchargers. It’s no secret that Tesla’s the big dog in this space. So why would they make things easier for people driving their competitors’ vehicles? Let’s go over a few pros and cons: 𝐏𝐫𝐨𝐬: 💪 | Increases their industry’s value by improving EV charging infrastructure. 💸 | Gives them access to government subsidies and an additional revenue stream. 😰 | Helps reduce range anxiety. As more EV chargers become available, more customers will feel comfortable about EV driving ranges. 🥇 | Strengthens leadership position—i.e. they won’t be perceived as just another self-interested automaker. 𝐂𝐨𝐧𝐬: 😑 | Loss of competitive advantage. Opening up their charging network could diminish an historic edge that they’ve had. 🔒 | Can’t lock customers in. Superchargers kept some Tesla customers loyal. 👯♂️ | Brand dilution. Allowing competitors to use the Tesla name and Supercharger network could dilute the Tesla brand if not managed carefully. Overall, the pros seem to outweigh the cons. Anyway, in the spirit of partnerships, here's a pic of Elon giving Ford a pat on the back for their EV strategy. ------------ PS: if you liked this, then you'll love my weekly newsletter. 💚 Read more + subscribe here: https://lnkd.in/dU_33BUi
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