When electric car great Tesla (NASDAQ:TSLA) rolled out the North American Charging Standard (NACS) plugs and connectors for electric vehicles, some might have thought it would stop with Tesla. But since then, it has rapidly become a complete charging standard in North America. And now, Subaru (OTHEROTC:FUJHY) has jumped on board, adding yet another carmaker to the new standard’s ongoing success.
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Subaru won’t be making the adjustment all at once, reports note. Only some of the Subaru electric vehicles released into the United States in 2025 will have the NACS charging ports installed. However, that number will increase as the years go on. And even those vehicles that don’t have the NACS charging ports installed will be able to get in on those chargers. Subaru plans to include adapters for those cars that don’t have the NACS ports installed outright. With that, Subaru vehicles will be able to access over 15,000 Tesla Supercharger stations throughout the United States.
Tesla’s move to standardize the electric vehicle charging concept makes sense, as it allows for common infrastructure to be established. After all, with gas-powered cars, no one needs to only go to one station to fuel up a certain kind of car. Imagine how cumbersome that would be! Indeed, Tesla’s move to standardize charging is already been accepted. A report in The Verge referred to the Supercharger network as “…widely considered vastly superior to the junky, bug-riddled public charging network in the US.” In fact, The Verge‘s report noted that virtually the entire auto industry will likely run on Tesla before it’s all said and done.
What is the Prediction for Tesla Stock?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on TSLA stock based on 16 Buys, 11 Holds, and six Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $251.32 per share implies 24.49% upside potential.
