North America Owners of These Electric Vehicles Just Got Great News

Nissan becomes the first Japanese auto company to join growing EV charging network.

Jul 19, 2023 - 22:30
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North America Owners of These Electric Vehicles Just Got Great News

In the immortal words of Bruce Willis, "welcome to the party, pal!"

Of course, we all know and love that line from the 1988 action epic “Die Hard,” where Willis’s John McClane character took on terrorists in a high-rise office building.

But times have changed and now we're talking about electric vehicles -- specifically, how to keep those suckers properly charged so you can go over the river and through the woods with a hearty cry of "yippee ki-yay..." Well, you know the rest.

DON'T MOVE: Tesla Rival Nissan Has More Awful News on Its Electric Vehicle

Tesla  (TSLA) - Get Free Report is doing its part in this cause with its charging network.

The electric-vehicle giant, which is scheduled to report second-quarter results after the market closes on July 19, has recently licensed other automakers to use its supercharger network to power up their EVs.

Nissan, an EV Pioneer, Joins Tesla Charging Net

Since May more than half a dozen car companies have accepted the Tesla-developed North American Charging Standard, including Ford  (F) - Get Free Report, GM  (GM) - Get Free Report and Rivian  (RIVN) - Get Free Report

Now Nissan  (NSANY) - Get Free Report is jumping into the mix as the first Japanese automaker to agree to adopt Tesla's EV charging technology in the U.S. and Canada.

After all, Nissan was a pioneer in the EV industry when in 2010 it introduced the Leaf, one of the first mass produced EVs -- which, by the way, will be phased out in 2026 and replaced with a new vehicle.

Starting in 2025, Nissan will begin offering EVs for the U.S. and Canadian markets with a NACS port. The move "will make charging on the Tesla Supercharger network seamless and convenient for drivers, significantly increasing the number of public fast-charging locations at which Nissan EVs can be charged," Nissan said.

“We are happy to provide access to thousands more fast chargers for Nissan EV drivers, adding confidence and convenience when planning long-distance journeys,” Jérémie Papin, Nissan Americas chairman, said in a statement.

Nissan is targeting more than 40% of its U.S. vehicle sales to be fully electric by 2030, with even more to be electrified.

'Most Reliable Network'

This includes two all-new, all-electric vehicles to be assembled at the Nissan plant in Canton, Miss., beginning in late 2025.

Tesla's superchargers account for about 60% of the total number of fast chargers in the U.S., according to the U.S. Department of Energy.

J.D. Power proclaimed last month that "Tesla simply has the largest and most reliable fast charging network."

"When it comes to reliability, no other provider is even close to Tesla," the data and analytics company said. "Through the first quarter of this year, 21.6% of EV drivers visiting non-Tesla public charging stations were unable to charge their vehicle. Among Tesla drivers using the Tesla supercharger network, that number falls to just 3.9%."

Morgan Stanley analyst Adam Jonas said the charging network could be a valuable asset for Tesla.

Elon Musk's company could emerge as the gas station for EVs as more consumers switch from internal combustion engine vehicles and adoption rates for them rise, Jonas wrote in a research report.

The White House has said electric-vehicle charging stations using Tesla-standard plugs would be eligible for billions of dollars in federal subsidies as long as they included the Combined Charging System, as well, Reuters reported

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