Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Volvo EVs to now have access to Tesla superchargers

Published 06/27/2023, 12:49 PM
Updated 06/27/2023, 01:00 PM
© Reuters. FILE PHOTO: Volvo reveals their new Volvo EX30 fully-electric small SUV vehicle during an event in Milan, Italy June 7, 2023. REUTERS/Claudia Greco

(Reuters) - Swedish carmaker Volvo Cars said on Tuesday it had signed an agreement with Tesla (NASDAQ:TSLA) to give its electric vehicles (EVs) access to the EV maker's Supercharger network in the United States, Canada and Mexico.

The deal makes Volvo the first European automaker to adopt Tesla's North American Charging Standard (NACS), adding to the slew of EV makers and charging equipment manufacturers taking up the technology.

Starting 2025, Volvo's cars in the three countries will be equipped with the NACS port, it said, adding that drivers who choose to use the Combined Charging System (CCS) will able to do so with an adapter provided by the company.

Earlier this month, California-based EV maker Rivian Automotive Inc and General Motors (NYSE:GM) said they would adopt the charging design, following Ford's announcement last month.

Tesla's Superchargers account for about 60% of the total fast chargers available in the United States, according to the U.S. Department of Energy.

Its recent deals represent major strides in displacing rival standard CCS that earlier exclusively had the backing of President Joe Biden's administration.

The government is offering $7.5 billion in funding to speed the deployment of EV chargers in the United States.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.