Tesla (TSLA) stock soars as automakers want to secure access to Supercharger network
Tesla (TSLA) stock soared more than 4% today as automakers are starting to want to secure access to the Supercharger network for their own EV owners.
It took a little while for NACS’ domino effect to gain momentum, but with Rivian today announcing that it is jumping on board, Tesla’s connector is cementing its place as the new North American standard, which is helping Tesla’s stock keep its own momentum.
Despite already being the most valuable automaker in the world, Tesla’s stock managed to increase 50% over the last month.
Tesla’s stock is up more than 4% today following the news of Rivian jumping on board with NACS; a lot of the value seems to be driven by the validation Tesla’s Supercharger network is receiving.
Morgan Stanley recently estimated that the charging network could be worth more than $100 billion by 2030.
If there’s one thing clear from the recent announcements from Rivian, GM, and Ford, it is that they all want to secure access to Tesla’s Supercharger network for EV owners.
Rivian wrote in its announcement today:
The adoption of the North American Charging Standard will enable our existing and future customers to leverage Tesla’s expansive Supercharger network while we continue to build out our Rivian Adventure Network. We look forward to continuing to find new ways to accelerate EV adoption.
Rivian is in a great position to understand the value of the Supercharger network since it has taken a very similar approach to Tesla when it comes to charging with its own Adventure network.
It has only managed to open three dozen charging stations to date compared to Tesla’s 2,000 stations in North America.
With the adoption of NACS, Rivian EV owners are going to be able to get access to those stations – first through an adapter and later through a direct connector in new vehicles starting in 2025, just like Ford and GM.
Electrek’s Take
I think this NACS adoption movement is validating Tesla’s approach to charging. It is going to create some urgency for other automakers as it is going to become a selling point for an EV in North America to have access to the Supercharger network.
In a way, with the exception of Rivian, which is likely just reading the situation right, it is legacy automakers admitting that unloading the charging experience to third-party wasn’t the right move.
And now, they are too far behind Tesla to do it themselves, so they have to unload it to Tesla.
I don’t think many people in the auto industry would have seen that coming 10 years ago.
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With much of the US sweltering under a record-breaking heat dome, many EV buyers and owners are left wondering how their favorite electric cars perform in extreme summer temperatures. A new study tracking over 29,700 electric cars in real-world conditions provides the answers, and we’re sharing them here: these are the EVs that handle the summer heat best.
The EV leasing and subscription specialists Recurrent Auto have had tens of thousands of new and used EVs in their database over the years, giving them a massive dataset to analyze and draw conclusions from. So when they published their findings about which EVs had the best range in 90- and 100-degree weather, it was required reading for any would-be EV expert.
“Most of the country has a heat advisory right now, so we’re fielding lots of questions about EV batteries in extreme heat,” reads the intro to the Recurrent report. “Here’s the deal … electric cars work perfectly fine in hot weather. Range loss at 90F (32C) is minimal. Less than 5% change.”
Like many real-world aspects of EV ownership and longevity, that seems a lot better than what most people – or even most analysts would likely tell you. So, what gives?
“When temperatures pass 100F (37C), range impacts can be 17-18%,” they continue, “but these reductions are temporary while the AC is working to keep passengers cool … we advise that owners and dealerships avoid letting an EV sit with extremely low states of charge in this heat. An EV uses its battery power to keep the battery cool.”
The infographic
Recurrent’s findings put the Audi e-tron in the top spot, followed closely by recent JD Power favorites BMW i4 and Rivian R1S, all of which reportedly lose less than 3% of their range, even at an absolutely blistering 100°F.
To put those percentages into some easier to digest numbers (and fix the fact that Recurrent’s infographic makes it look, to my eyes, like you can’t drive a Nissan Ariya or Chevy Blazer at 100+ degrees), I’ve done the math, starting with the EV’s EPA-rated range under “ideal” conditions, then translated that using the percentages from Recurrent.
Would I bet my family’s safety and convenience on this rough-and-tumble chart while planning my next road trip? Absolutely not – go download Chargeway for that. Would I do the math because it’s a fun mental exercise that’s going to generate fun comments? Absolutely.
Check out the math, below, and if you see an EV you like in there click on the link in the table to go find a great local deal on a hot weather ready electric car near you. Links to Rivian and Tesla dealers weren’t included because they don’t have dealers.
EV range in extreme heat
SOURCES: Recurrent Auto, via LinkedIn; featured image via Audi.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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Time-of-use electricity plans are hardly a new concept, but what makes Octopus Energy’s new time-of-use plan, OctopusFlex, great is that it’s ridiculously simple.
It rewards its customers in Lubbock, Texas, for using power between 10 pm and 6 am with cheaper rates, when the grid is quieter and cleaner. That means big savings for choosing to run your dishwasher or washer and dryer at night or charging your EV while you sleep.
And if customers use EV charger apps and smart thermostats, OctopusFlex automatically shifts electricity use to off-peak hours, which makes a real difference in accessing lower rates and saving money.
“This is about more than off-peak discounts,” said Nick Chaset, CEO of Octopus Energy US. “We’re giving customers the power to save money while actively supporting a cleaner, more balanced grid.”
Built around customer feedback, OctopusFlex is designed for total transparency. Customers can see exactly how and when they’re using electricity, what it’s costing them, and no connected devices are required. All they have to do is remember that electricity is cheaper from 10 pm to 6am.
“We’re thrilled to launch OctopusFlex, a plan our customers asked for and helped name,” said Katie Rosario, marketing manager. “With OctopusFlex, customers can shift energy use on their terms to save money.”
And in the summer, when solar power is strong and demand shifts, OctopusFlex customers could see low rates not just overnight, but all day long. (This program is designed for folks who don’t have solar and battery storage.)
“Time-of-use is one of the easiest ways to cut energy bills and reward flexibility,” said Daniel Kirwin, product manager. “We couldn’t be more excited to bring this to Texas.”
By nudging demand to off-peak hours, OctopusFlex helps reduce the strain on Texas’ grid during scorching summer afternoons, cuts the risk of blackouts, and makes room for more renewable energy.
Want to make the most of it? Pre-cool your home in the early morning, run big appliances overnight, charge your EV after 10 pm, and use smart plugs or timers to set and forget.
OctopusFlex is now live in Lubbock, Texas, where Octopus Energy became a retail provider in early 2024. Octopus Energy launched in 2016 and entered the US market in 2020. The company is part of Octopus Group, a global certified BCorp operating in 18 countries.
Read more: This Texas EV lease company includes unlimited free home charging
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
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