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Tesla stock charges upwards on deal with GM | CNN Business

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Tesla stock charged higher Friday following an announcement by General Motors that GM’s electric vehicles would be able to charge using Tesla's charging network

Tesla\n \n stock charged higher Friday following an announcement by General Motors that GM’s electric vehicles would be able to charge using Tesla\n \n ’s charging network. That news following a similar announcement from Ford just two weeks before. The company’s stock was up about $12 a share, or 5% on the day, as of this writing. Both Ford and GM EV drivers will, for now, need special adapters to allow their vehicles to use Tesla chargers.

This makes it easier for Tesla to lobby for financial assistance under federal infrastructure laws for building EV chargers, said Sam Abuelsamid, an analyst with Guidehouse Insights. Currently, those rules limit funding to chargers using the CCS standard. Moreover, Guidehouse’s Abuelsamid and KPMG’s Silberg said they don’t expect the shift to stop with GM and Ford.

 

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