Mercedes-Benz Group drivers now have the opportunity to utilize Tesla’s extensive high-speed charging network in North America.
Mercedes announced on Friday that starting in 2024, their customers will have access to the Tesla Superchargers, which consists of over 12,000 charging units. The electronic maps installed in Mercedes vehicles will display the location, availability, and pricing information of Tesla chargers.
Ola Källenius, Chairman of Mercedes-Benz’s board of managers, expressed their commitment to enhancing the overall electric vehicle experience for their customers. He stated, “To expedite the transition to electric vehicles, we are dedicated to providing fast, convenient, and reliable charging solutions for our customers, no matter where they take their Mercedes-Benz.”
It is worth noting that Mercedes is not the first car company to offer this convenience to its drivers. General Motors (GM), Ford Motor (F), and Volvo have previously introduced similar initiatives. As a result, Tesla’s charging technology has become the de facto standard for the United States automotive industry.
Tesla and the Expansion of EV Charging Network
Tesla, a leading electric vehicle (EV) manufacturer, has been benefiting from its network of charging stations. Customers are charged for using these stations, which contributes to Tesla’s revenue. Moreover, the availability of more charging stations also addresses a common concern among potential EV buyers – the fear of running out of power on long road trips.
In a bid to improve the country’s overall EV charging infrastructure, the White House introduced an expanded effort in February. As part of this initiative, Tesla agreed to open up many of its charging stations to EVs from other manufacturers. Under the recently passed Inflation Reduction Act, $7.5 billion in federal funds has been allocated to support the development of EV charging infrastructure. Additionally, an announcement made in February included an extra $2.5 billion in discretionary grants specifically aimed at building more charging stations.
President Joe Biden has set an ambitious target of installing 500,000 chargers along roads and highways to promote EV sales. He aims for electric vehicles to account for 50% of all new car sales by 2030.
On the stock market front, Tesla shares experienced a 0.4% increase on Friday, reaching $277.58 per share. Similarly, American depositary receipts of Mercedes witnessed a 1% growth and were valued at $19.63.