A Tesla Model S sedan is plugged into a Tesla Supercharger electrical vehicle charging station in Falls Church, Virginia. Toyota Motor, the world’s largest automaker by sales, says it has signed an agreement to adopt Tesla’s EV charging technology from 2025.
The EV maker missed revenue estimates on Wednesday by the most in more than three years and Musk said it was impossible to maintain a 50% annual delivery growth rate. Overall, 15 analysts cut their price targets on the stock, pushing the median view to US$260, according to LSEG data. In another development, Japan’s Toyota Motor, the world’s largest automaker by sales, said on Thursday it had signed an agreement to adopt Tesla’s EV charging technology from 2025.
Tesla’s NACS is widely available, with the US Department of Energy saying they make up about 60% of the fast chargers in the United States. Musk on Wednesday said he was still set on the site in the Santa Catarina municipality in northern Mexico, but that the timing was uncertain due to global economic factors, and construction likely would not begin until next year.