Tesla said in a blog post a few years ago that its Supercharger network would “never be a profit center.” The brand has come a long way since then, and analysts are forecasting the Supercharger network to grow into a multi-billion dollar business in the coming years.
Dan Ives, the managing director and senior equity research analyst at investment firm Wedbush Securities, forecasted that Tesla’s Supercharger business could be worth roughly three to six percent of total revenues, translating to a $10 to $20 billion business by 2030. The Wall Street analyst based his forecast on multiple factors, including Tesla’s North American Charging Standard deal with several automakers, its energy business, investment in artificial intelligence, and an increasing production capacity, among others.
Ives added that Tesla is in a “prime position” to further capitalize on the journey to electrification and that global demand for Tesla EVs is holding up with the recent price cuts. His projection for the Tesla stock is $350.After reducing the price of Tesla models several times this year, CEO Elon Musk said in July 2023 that the brand could