Ford Introduces Tesla Supercharging Equivalent for EVs – Key Information for Drivers

Ford Motor is introducing Tesla Supercharging capabilities to its electric vehicle owners in the United States and Canada. The rollout commences on Thursday but is expected to face initial supply constraints.

As the first automaker to announce a collaboration with Tesla regarding the use of the EV manufacturer’s Supercharger network, Ford has been followed by the majority of U.S. automakers. Through these agreements, companies like Ford will adopt Tesla’s charging port for upcoming EV models.

During this interim period, non-Tesla vehicles, which employ different charging technology, will require an adapter to connect to Tesla’s network. Ford anticipates that this partnership will significantly increase access to fast chargers for its customers. However, the distribution of adapters to all customers might take some time.

Ken Williams, Ford’s director of charging and energy services, stated in a media briefing, “We are supply constrained as we move forward, and we do believe in the initial phases of launch demand will exceed supply.” He added that the company aims to manage this demand on a first-come, first-served basis.

The exact number of adapters available for Ford’s EV customers was not disclosed by Williams. Ford, which sold approximately 140,000 EVs in the U.S. since 2023, expects to begin shipping adapters to customers in late March.

Tesla, responsible for designing and distributing the adapter to automakers, has not provided specific comments on these details. Fast chargers can add hundreds of miles of driving range in an hour or less, making them significantly faster than less powerful chargers.

In a strategic move, automakers have been adopting Tesla’s charging technology to access its extensive charging network rather than building their own or waiting for government initiatives.

Ford clarified that it is not paying Tesla or receiving any revenue for accessing the Tesla Supercharger network. Ford’s current F-150 Lightning and Mustang Mach-E retail customers can reserve a free charging adapter through Ford’s owner app or website until June 30. After this date, the adapters will cost $230 each.

Customers can log in or enroll in Ford’s “BlueOval Charge Network” through the FordPass App to reserve an adapter. The adapters will be sent based on reservations, and delivery times may vary.

Owners can utilize the Tesla charger through the FordPass App or Charge Assist App in the vehicle’s touch screen, eliminating the need for on-site credit card use. The adapter is crucial to connecting a Combined Charging System (CCS) charger port to Tesla’s North American Charging Standard (NACS) system.

As of Thursday, under the Ford-Tesla agreement, owners gain access to over 15,000 Tesla Superchargers across the U.S. and Canada. Tesla boasts over 50,000 Supercharger connectors globally, while the U.S. Department of Energy reports approximately 6,900 publicly available CCS fast chargers in the country. With the addition of Tesla Superchargers, Ford’s BlueOval Charge Network customers will have access to more than 126,000 chargers, including over 28,000 fast chargers.

General Motors is scheduled to disclose its earnings ahead of the market opening. Here’s the anticipated forecast from Wall Street.

General Motors is poised to announce its fourth-quarter earnings before the opening bell on Tuesday. According to average estimates compiled by LSEG (formerly Refinitiv), Wall Street is anticipating the following:

  • Adjusted earnings per share: $1.16
  • Revenue: $38.67 billion

If these projections hold, it would signify a 10.3% decline in revenue compared to the previous year and a substantial 45.3% drop in adjusted earnings per share. GM’s fourth-quarter results for 2022 included $43.11 billion in revenue, net income attributable to stockholders of $2 billion, and adjusted earnings before interest and taxes amounting to $3.8 billion.

In addition to quarterly earnings, investors are keenly observing for any residual or unforeseen costs stemming from the company’s new labor contract, negotiated last year with the United Auto Workers union. Moreover, the focus is on GM’s 2024 guidance.

Analysts on Wall Street anticipate a “flattish” forecast from GM compared to the previous year’s earnings. The normalization of favorable vehicle pricing, which has led to record profits in recent years, is expected. Simultaneously, cost-cutting measures are projected to help offset higher labor costs resulting from the UAW deal.

In November, GM CEO Mary Barra stated that the company is finalizing a budget for 2024 to “fully offset the incremental costs of our new labor agreements.”

GM reinstated its 2023 guidance in November, encompassing net income attributable to stockholders of $9.1 billion to $9.7 billion, or EPS of $6.52 to $7.02; adjusted earnings before interest and taxes of $11.7 billion to $12.7 billion, or $7.20 to $7.70 adjusted EPS; and adjusted automotive free cash flow of $10.5 billion to $11.5 billion.

The guidance factored in an estimated $1.1 billion EBIT-adjusted effect from approximately six weeks of U.S. labor strikes and some costs associated with an accelerated $10 billion share repurchase program announced in November.

Investors are also eager for updates on GM’s new electric vehicles and Cruise, GM’s majority-owned autonomous vehicle subsidiary currently under investigation following an October pedestrian accident in San Francisco. Cruise and GM released findings of internal investigations last week, highlighting cultural issues, regulatory challenges, and leadership shortcomings at the company but concluding that officials did not intentionally deceive regulators. Cruise remains under investigation by various entities, including the U.S. Department of Justice and the U.S. Securities and Exchange Commission.