Morgan Stanley analyst Jonas says investors may have missed their window to buy Tesla shares
CNBCDec 23, 2022
Tesla to Open EV Charging Network to Rivals in Federal Program
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Image copyright: File Photo [via Reuters]
The Facts
As part of its $7.5B program to build 500k electric vehicle (EV) chargers by 2030, the White House announced Wednesday that Tesla agreed to make at least 7.5k chargers available to all EVs by the end of 2024.
To qualify for program funding, participating manufacturers must make and assemble the chargers in the US, and all manufacturing processes for any iron or steel charger enclosures or housing must also occur domestically.
The Spin
Republican narrative
After spending so much time attacking Elon Musk and his businesses — particularly regarding the new Twitter CEO setting the Hunter Biden story free — Pres. Biden has now begged his billionaire nemesis to help him fulfill his administration's green energy infrastructure plans. It seems that the man who actually builds things for America is winning the war of words with Mr. Build Back Better.
Democratic narrative
As the Biden admin. and the American people look for ways to go green, their efforts have been hindered for years due to a lack of charging adapters to connect to Tesla's chargers. In order to benefit from federal funding, however, Elon Musk has finally agreed, albeit begrudgingly, to produce universal EV chargers instead of hoarding his technology for Tesla buyers only.
