Advertisement
Canada markets closed
  • S&P/TSX

    21,552.35
    +188.74 (+0.88%)
     
  • S&P 500

    5,137.08
    +40.81 (+0.80%)
     
  • DOW

    39,087.38
    +90.99 (+0.23%)
     
  • CAD/USD

    0.7376
    +0.0011 (+0.15%)
     
  • CRUDE OIL

    79.81
    +1.55 (+1.98%)
     
  • Bitcoin CAD

    84,552.85
    +348.29 (+0.41%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,091.60
    +36.90 (+1.80%)
     
  • RUSSELL 2000

    2,076.39
    +21.55 (+1.05%)
     
  • 10-Yr Bond

    4.1800
    -0.0720 (-1.69%)
     
  • NASDAQ

    16,274.94
    +183.02 (+1.14%)
     
  • VOLATILITY

    13.11
    -0.29 (-2.16%)
     
  • FTSE

    7,682.50
    +52.48 (+0.69%)
     
  • NIKKEI 225

    39,910.82
    +744.63 (+1.90%)
     
  • CAD/EUR

    0.6802
    -0.0012 (-0.18%)
     

Blink, ChargePoint to launch EV chargers with Tesla's charging connector

FILE PHOTO: A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York

(Reuters) -Electric vehicle charging equipment makers Blink Charging, ChargePoint and Tritium said on Monday they will offer chargers with Tesla's connector, as the standard Combined Charging System (CCS) connector falls out of favor with automakers.

General Motors, one of the largest U.S. automakers, said last week it would join Ford in adopting Tesla's previously proprietary North American Charging Standard (NACS) port, which is set to dominate 60% of the U.S. EV market with the partnerships.

Tesla's NACS is known to be more compact and lighter, making it easier for motorists to use.

EVgo, which already offered Tesla connectors in 2020, said on Monday it will be expanding its NACS connectors to its fast charging network across the United States.

ChargePoint said it will offer an NACS connector option for its products, and upgrades for chargers that are already in service.

Meanwhile, Australia-based Tritium said it will add the NACS connector to its chargers in the United States and other markets that decide to adopt it.

Blink's shares closed over 9% higher, and U.S.-listed shares of Tritium closed up 5.6%.

Blink's new direct current (DC) fast charger, offering both NACS and CCS, was teased at the Consumer Electronics Show (CES) 2023 and is in the final stages of design, the company said.

"Given recent announcements by Tesla, GM, and Ford, we are clearly witnessing the continued evolution of the EV charging industry as technologies advance and industry stakeholders come together and evaluate best practices," Blink said.

Brokerage Piper Sandler expects Tesla's revenue from its charging network to reach about $9.65 billion in 2032, with more than half the sales coming from other EV makers making use of the network.

(Reporting by Akash Sriram in Bengaluru; Additional reporting by Chavi Mehta; Editing by Shinjini Ganguli and Krishna Chandra Eluri)