PSNY - Polestar Automotive signs deal with Tesla for Supercharger network access

2023-06-29 10:18:42 ET

Polestar Automotive ( NASDAQ: PSNY ) announced on Thursday that the company inked a deal with Tesla ( TSLA ) to adopt the new North American Charging Standard, which will enable access to the Supercharger network for all Polestar drivers in the United States and Canada.

The agreement applies to current and future Polestar models. To maintain compatibility with existing CCS public fast charging infrastructure in North America, future NACS-equipped Polestar vehicles will come with a CCS adapter.

The electric vehicle maker also said new Polestar ( PSNY ) vehicles sold in North America after 2025 will be equipped with the NACS charging port by default. Adapters to help allow existing Polestar drivers access the network in a convenient way are expected in mid-2024.

CEO Thomas Ingenlath: "With 12,000 charging points today, a number that will only keep growing, this move will greatly increase the rate of EV adoption in a key automotive region."

The move by Polestar Automotive ( PSNY ) is part of a large trend in the electric vehicle sector over the last few weeks to adopt Tesla's ( TSLA ) NACS charging standard.

Shares of PSNY rose 2.47% in morning trading on Thursday.

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