Two more major partners have signed up with Tesla’s (TSLA) charging network, opening up more charging availability for Tesla owners and cars equipped with NACS (North American Charging Standard) compatibility.
Beginning in 2024, hotel operator Hilton will install 20,000 Tesla Universal Wall Connector plugs at 2,000 of its hotel locations in the US, Canada and Mexico. Hilton (HLT) says the project will make its EV charging network the largest of any hospitality company. Hilton currently has the chargers in 1,850 Hilton-branded hotels globally.
Hilton, which operates its namesake brand as well as Embassy Suites, Hampton Inn and DoubleTree among others, says customers are looking for EV chargers while traveling, with searches on the company’s website for EV charging Fastest growing year after year. , moved from fourth to second place in converting searches into stops. Hilton previously stated that access to airport shuttles from hotel location was the top search query for room bookings.
The Tesla Universal Wall Connector that Hilton is using is different from Tesla’s Supercharger network, which provides faster DC charging, while the Wall Connector provides cheaper, but slower, AC charging.
“A key priority for Tesla Charging is establishing low-cost, convenient AC charging where electric vehicles are parked for more than an hour or two,” Rebecca Tinucci, senior director of Tesla charging infrastructure, said in a statement. “Installing infrastructure at popular destinations, such as Hilton hotels, enables EV owners to be charged where they park, meaning no unnecessary refueling stops during their journey.”
Returning to Tesla’s flagship Supercharger network, the EV-maker on Thursday added another major automotive partner, Honda (HMC), to announce it will implement the NACS plug in its new EVs starting in 2025, which means Native access to Tesla’s Supercharger network.
Honda says it will offer an adapter plug for its older EVs in 2025 using the CCS standard for backwards compatibility; However, unlike other Tesla charging partners such as GM, Ford and Mercedes, Honda will not get access to the network until 2025, while other partners will gain access to the Supercharger network as early as next year.
The Honda SUV E: Prototype EV is displayed at the 39th Thailand International Motor Expo in Bangkok, Thailand on November 30, 2022. Reuters/Athit Perawongmetha
The news of another major automaker joining the Tesla Supercharger network is a fresh blow to network operators like eVigo, ChargePoint, and Blink — companies that have tried to stay agnostic in the charging wars, but now all have something on their stations. Have decided to include the NACS plug. To accommodate the growing number of cars using the Tesla charging standard.
Operating a charging network is an expensive business, at least so far in EV development in the US, due to high upfront costs and generally low utilization rates.
Charging network operator ChargePoint (CHPT) is the latest to present grim valuations of the market with the stock catering to the market after reporting below-expected earnings.
ChargePoint reported a second-quarter net loss of $125.3 million, a larger loss than the Street had expected, and deeper than the company’s $92.7 million loss last year. The company’s margin narrowed significantly due to inventory losses resulting from DC fast-charging projects and supply chain-related costs, although revenue rose 39% from a year earlier.
ChargePoint said it still expected to achieve positive adjusted EBITDA in the fourth quarter of next year, although it announced a 10% reduction in its global workforce to maintain liquidity.
Chargepoint competitor Blink Charging (BLNK) noted that the cost associated with replacing older chargers has become a “burden” due to their outdated technology and reliability issues—a common complaint among users of charging networks and their automaker partners. Blink CEO Brendan Jones said the industry has made mistakes by installing chargers in non-ideal locations, among other issues.
Prasad Subramaniam is a reporter with Yahoo Finance. you can follow him Twitter and on Instagram,
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