Electric vehicle (EV) owners of Ford’s Mustang Mach-E and F-150 Lightning models across North America now have the option to charge their vehicles at Tesla Superchargers, marking a significant development in the EV charging landscape.
Ford CEO, Jim Farley, took to LinkedIn to announce the collaboration, highlighting the utilization of fast-charging adapters aimed at enhancing the EV ownership experience for Ford drivers. Farley personally attested to the efficacy of the charging partnership, emphasizing its seamless functionality.
This move follows Tesla’s prior agreement with General Motors (GM), unveiled in June, granting GM customers access to over 12,000 Tesla fast chargers across the United States and Canada. GM CEO Mary Barra anticipated substantial savings, up to $400 million, from a planned investment in expanding EV charging infrastructure.
The partnerships signify a strategic shift for Tesla CEO Elon Musk, who had long emphasized the exclusivity of Tesla’s charging network. However, forging alliances with other automakers necessitates substantial investments in technical and business development.
According to Sam Fiorani, Vice President for Global Forecasting at AutoForecast Solutions, Tesla stands to reap significant financial rewards from these endeavors, including revenue from environmental credits and charging fees. Despite operating approximately one-third of all charging stations in the U.S., Tesla could potentially generate between $6 billion to $12 billion annually from its expanded charging business by 2030.
While facilitating easier charging access may lead to some customer attrition for Tesla, Fiorani notes that brand loyalty remains a powerful driver for Tesla owners. Despite intensifying competition in the EV market, Tesla’s strong brand allegiance ensures a high retention rate among its customer base.
Furthermore, enabling other automakers to leverage its charging network opens up additional avenues for revenue, including potential federal funding under President Biden’s Inflation Reduction Act.
William Navarro Jameson, Tesla’s Strategic Charging Programs lead, underscored the extensive groundwork required to facilitate this collaboration with Ford. He detailed the rigorous interoperability testing, hardware and software integrations, and legal negotiations undertaken over the past 18 months to enable seamless access for Ford EV owners.
Tesla has actively promoted the expansion of its charging network across North America through social media channels, encouraging more retailers to host Superchargers at their facilities, further solidifying its commitment to advancing EV infrastructure.
