Tesla to Open 7,500 U.S. Chargers by 2025, Unlocking $2.5B Federal Subsidies

Tesla will open its U.S. charging network to competitors, sharing at least 7,500 chargers including 3,500 Superchargers by the end of 2024.

In a landmark move, Tesla (TSLA) is set to allow electric vehicles from rival manufacturers to access a significant portion of its U.S. charging infrastructure. This decision, announced by the White House, aligns with a $2.5 billion federal initiative aimed at expanding public EV charging nationwide.

By the close of 2024, Tesla commits to making at least 7,500 chargers accessible to all EVs, including a minimum of 3,500 fast Superchargers along highways and 4,000 slower Destination Chargers at popular locations such as hotels and restaurants. Currently, Tesla operates nearly 17,000 Superchargers and approximately 10,000 Destination Chargers across the country.

Highlights to Know

• Tesla will open 3,500 Superchargers and 4,000 Destination Chargers to non-Tesla EVs by 2024.
• This move qualifies Tesla for federal subsidies under a five-year, $2.5 billion program supporting EV infrastructure.
• The federal program, part of the 2021 infrastructure law, aims to expand U.S. public chargers to 500,000 by 2030.
• Fast chargers can add up to 200 miles of range in just 15 minutes, while slower chargers add up to 44 miles per hour.
• The U.S. EV fleet is expected to surge from 3 million today to over 26 million by 2030.

The Biden administration’s goal of 500,000 public charging stations by 2030 is supported by federal funding through the 2021 Infrastructure Investment and Jobs Act, a dramatic increase from the current 130,000 stations.

This initiative has inspired other collaborations, such as Hertz and BP’s partnership and General Motors' involvement in public charging networks. Tesla’s participation is pivotal given it operates the nation’s largest commercial charging network and is a dominant EV manufacturer. The company also plans to double its Supercharger network built in Buffalo, New York.

Superchargers can rapidly add 200 miles of driving range in 15 minutes, while Destination Chargers provide up to 44 miles of range per hour. Increasing accessible chargers nationwide aims to reduce "range anxiety," a key barrier to EV adoption, according to the Federal Highway Administration.

Currently, Tesla’s Superchargers use proprietary connectors incompatible with other EV brands. To meet subsidy requirements, Tesla will add alternative connectors standardized by the U.S. government and adopted industry-wide.

CEO Elon Musk has expressed support for opening Tesla’s charging network to competitors, already providing standard connectors in Europe and Australia.

Non-Tesla drivers will be able to use Tesla’s compatible charging stations via the Tesla app or website, with locations integrated into public mapping services.

With over 3 million plug-in EVs on U.S. roads today, projections estimate this number will exceed 26 million by 2030. S&P Global Mobility forecasts a U.S. EV fleet of 28.3 million by 2030, requiring 172,000 fast chargers and over 2 million slower chargers.

The $2.5 billion Charging and Fueling Infrastructure Discretionary Grant Program complements $5 billion in state-level EV infrastructure funding, with $700 million in competitive federal grants awarded from 2022 and 2023 budgets.

Discover the latest news and current events in Company News as of 20-02-2023. The article titled " Tesla to Open 7,500 U.S. Chargers by 2025, Unlocking $2.5B Federal Subsidies " provides you with the most relevant and reliable information in the Company News field. Each news piece is thoroughly analyzed to deliver valuable insights to our readers.

The information in " Tesla to Open 7,500 U.S. Chargers by 2025, Unlocking $2.5B Federal Subsidies " helps you make better-informed decisions within the Company News category. Our news articles are continuously updated and adhere to journalistic standards.