Connect with us

Published

on

Tesla Supercharger Station
CNBC | Andrew Evers

Tesla CEO Elon Musk said Tuesday that the company’s network of DC fast-charging stations for its electric vehicles, also known as the Tesla Supercharger network, will be open to other types of electric vehicles in 2021.

Responding to a Tesla fan on Twitter, where Musk commands a following of 58.3 million, the CEO specifically wrote: “We’re making our Supercharger network open to other EVs later this year.”

Musk did not say where in the world Tesla would make its DC fast-charging stations available for use with other electric vehicles, or which makes and models would be compatible with Tesla’s on-the-road chargers in 2021.

He did say that Tesla intends to make Superchargers open to other electric vehicles in all countries, eventually.

Previously, Tesla marketed its vehicles as having a tremendous advantage — compared to other brands of battery electric vehicles — due to the company’s exclusive charging stations on the road.

The Tesla charging network is available to drivers of Tesla cars without any kind of membership fees required. Tesla bills drivers for charging by the minute, or per kilowatt hour for “supercharging” depending on local laws.

While Teslas can power up at most any electric vehicle charging station using adaptor cables, Tesla owners have the company’s level 3 and newer Supercharger stations to themselves for now.

The connectors they use to plug in and power up on the road at newer Superchargers make Tesla’s stations incompatible with others’ EVs, and theoretically keep lines shorter, and chargers more available for Tesla drivers.

Musk’s promise on Tuesday gives more details than an earlier remark he made to YouTuber MKBHD, Marques Brownlee, in December 2020. At that time, Musk said other automakers were “low-key,” seeking access to Tesla Superchargers, and the equipment was already “being made accessible to other electric cars.”

Previous reports by Reuters and others said Tesla has been in talks to establish fast-charging stations open to electric vehicles from other companies in Germany, Sweden and Norway.

Competitors in the U.S. have long focused on charging stations that serve battery electric vehicles from a wide range of automakers. These include: Aerovironment, ChargePoint, Electrify America, Volta, eVgo, Sema and many others. (In China and some parts of Europe, the rollout of charging infrastructure has been even more rapid than it has been in the U.S.)

According to Tesla’s website, the company now operates more than 25,000 charging stations around the world.

If Tesla opens up significant numbers of its charging stations in the US — especially if it can power up cars from renewable energy sources there — it may tap into new government funding such as grants, tax credits, rebates or green energy credits which it can sell to companies that need them to offset their own environmental impact.

The exact types of credits would be at the discretion of various state and federal authorities that run environmental programs and green credit regimes.

In the first quarter of 2021, Tesla reported $518 million in revenue from sales of regulatory credits. The company is expected to deliver its second-quarter earnings update, including new Supercharger numbers and revenue from regulatory credit sales on Monday July 26.

Continue Reading

Technology

Bitcoin price rises as Israel-Iran ceasefire begins, and Senate unveils major crypto bill

Published

on

By

Bitcoin price rises as Israel-Iran ceasefire begins, and Senate unveils major crypto bill

Crypto prices, including bitcoin, rose on Tuesday after President Trump announced a ceasefire between Iran and Israel.

By midday Tuesday, bitcoin had passed the $105,000 level, ether jumped back above the $2,400 mark, and XRP climbed to $2.19. 

The risk-on action in the markets, which also saw stocks rally on the Mideast de-escalation, wasn’t the only source of momentum, as Republican senators unveiled a major bill to set the rules of the road for crypto. Specifically, the legislation would define when crypto is a commodity or a security, allow crypto exchanges to register with the Commodity Futures Trading Commission, and reduce the Securities and Exchange Commission’s regulation of digital assets — a big reversal from the plans of President Biden’s SEC Chair Gary Gensler to closely regulate the crypto industry.

The new framework was introduced by Senate Banking Committee Chairman Tim Scott of South Carolina and Senator Cynthia Lummis of Wyoming, who heads the panel’s Digital Assets Committee. Robinhood CEO Vlad Tenev said on CNBC’s “Squawk Box” that the regulatory development was important for the U.S. to regain the lead in the crypto industry, where he said it has fallen behind other markets, including Europe.

Last week, the senate passed a stablecoin bill, marking the first major legislative win for the crypto industry, which now heads to the House for consideration of its version of the bill. Both bills prohibit yield-bearing consumer stablecoins — but differ on agency regulatory oversight. Visa CEO Ryan McInerney weighed in on the advancement of the Senate version, the Genius Act, telling CNBC’s “Squawk on the Street” that the credit card giant has been embracing stablecoins. 

Meanwhile, investors increased their bets on crypto company Digital Asset, which raised $135 million in funding from several big names in banking and finance, including Goldman Sachs, BNP Paribas and hedge fund billionaire Ken Griffin’s Citadel Securities. The firm, which touts itself as a regulated crypto player, said it will use the funding to advance adoption of its Canton network, which is a blockchain for financial institutions, another sign of how major financial institutions are embedding themselves into the once obscure crypto world. 

Continue Reading

Technology

Ambarella shares soar 19% on report chip designer is exploring sale

Published

on

By

Ambarella shares soar 19% on report chip designer is exploring sale

Thomas Fuller | SOPA Images | Lightrocket | Getty Images

Ambarella shares popped 19% after a report that the chip designer is currently working with bankers on a potential sale.

Bloomberg reported the news, citing sources familiar with the matter.

While no deal is imminent, the sources told Bloomberg that the firm may draw interest from semiconductor companies looking to improve their automotive business. Private equity firms have already expressed interest, according to the report.

Read more CNBC tech news

The Santa Clara, California-based company is known for its system-on-chip semiconductors and software used for edge artificial intelligence. Ambarella chips are used in the automotive sector for electronic mirrors and self-driving assistance systems.

Shares have slumped about 18% year to date. The company’s market capitalization last stood at nearly $2.6 billion.

Read the Bloomberg story here.

Don’t miss these insights from CNBC PRO

Continue Reading

Technology

Nvidia CEO Huang sells $15 million worth of stock, first sale of $873 million plan

Published

on

By

Nvidia CEO Huang sells  million worth of stock, first sale of 3 million plan

Nvidia CEO Jensen Huang attends a roundtable discussion at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 11, 2025.

Sarah Meyssonnier | Reuters

Nvidia CEO Jensen Huang sold 100,000 shares of the chipmaker’s stock on Friday and Monday, according to a filing with the U.S. Securities and Exchange Commission.

The sales are worth nearly $15 million at Tuesday’s opening price.

The transactions are the first sale in Huang’s plan to sell as many as 600,000 shares of Nvidia through the end of 2025. It’s a plan that was announced in March, and it’d be worth $873 million at Tuesday’s opening price.

The Nvidia founder still owns more than 800 million Nvidia shares, according to Monday’s SEC filing. Huang has a net worth of about $126 billion, ranking him 12th on the Bloomberg Billionaires Index.

The 62-year-old chief executive sold about $700 million in Nvidia shares last year under a prearranged plan, too.

Nvidia stock is up more than 800% since December 2022 after OpenAI’s ChatGPT was first released to the public. That launch drew attention to Nvidia’s graphics processing units, or GPUs, which were needed to develop and power the artificial intelligence service.

The company’s chips remain in high demand with the majority of the AI chip market, and Nvidia has introduced two subsequent generations of its AI GPU technology.

Nvidia continues to grow. Its stock is up 9% this year, even as the company faces export control issues that could limit foreign markets for its AI chips.

In May, the company reported first-quarter earnings that showed the chipmaker’s revenue growing 69% on an annual basis to $44 billion during the quarter.

Don’t miss these insights from CNBC PRO

Market Navigator: Nvidia warning signs

Continue Reading

Trending