TSLA: Tesla Will Share Supercharger Station Technology

He wants to create an electric car industry standard

   

TSLA: Tesla Will Share Supercharger Station Technology

Elon Musk is hoping to speed the public’s adoption of electric cars by giving away some Tesla Motors’ (TSLA) technology.

tesla model s 630 300x236 TSLA: Tesla Will Share Supercharger Station Technology
Source: Flickr

At an event in the United Kingdom over the weekend, the TSLA CEO said that he wanted to share some of TSLA’s proprietary technology relating to its battery Supercharger system so that it could become an industry standard for other manufacturers to follow, Engadget notes.

Under such a standard TSLA’s Supercharger network could be used by vehicles from other manufacturers.

The TSLA CEO expects manufacturers who use the standard to comply with TSLA’s business model — which includes lifetime vehicle electricity costs in the purchase price of the car — for the Supercharger system. Outside manufacturers who adopt the TSLA Supercharger standard would also have to finance part of the cost of creating and maintaining the Supercharger system.

Tesla stock closed at $208.17 per share on Friday. TSLA shares slipped slightly in Monday morning trading.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/06/tsla-tesla-will-share-supercharger-station-technology/.

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