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This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
General Motors Co (NYSE:GM) CEO Mary Barra and Tesla Inc (NASDAQ:TSLA) Elon Musk revealed Thursday afternoon during a Twitter Spaces their companies' collaborative efforts toward a unified North American charging standard for electric vehicles.
"This is the most exciting time when we look at this transformation to EVs," said Barra, who has more than 40 years of experience in the auto industry.
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Echoing Barra's sentiments, Musk said, "This is one of the great inflection points in vehicles that's comparable to really the moving production line. And so it's a profound change in the world."
Here are five takeaways from the conversation between Barra and Musk:
1. Collaboration on Charging Infrastructure: Barra announced a collaboration between General Motors and Tesla to adopt the North American charging standard for electric vehicles. The collaboration aims to drive EV adoption by providing a robust charging infrastructure. Existing GM EV customers will be able to use Tesla's superchargers with an adapter, increasing access to charging stations.
This is similar to a deal Tesla has with Ford Motor Co (NYSE:F), which was also announced during a Twitter Spaces featuring Musk and Ford CEO Jim Farley. During that discussion, Farley said that by early 2024, "all of Ford's existing and future customers will have access to Tesla's 12,000 superchargers across the U.S. [and Canada]."
2. Unified Standard for North America: The collaboration between GM and Tesla seeks to establish a unified charging standard for North America. By having both GM and Tesla vehicles adhere to the same charging standard, it simplifies and streamlines the charging experience for EV owners. This unified approach is expected to encourage more mass adoption of EVs in the region.
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3. Advantages of the North American Charging Standard: Both Barra and Musk highlighted the benefits of the North American charging standard. They mentioned it automatically detects whether it's AC or DC, adjusts to the current, and is ergonomically designed for ease of use. The standard is also aesthetically pleasing and offers reliability and durability. Its adoption by GM and Tesla is seen as a positive step for customers and the industry.
4. Support and Partnership: Musk expressed full support and excitement about the collaboration. He emphasized Tesla will provide equal support to GM and Tesla owners, ensuring a seamless and consistent experience for both customer bases.
5. Accelerating EV Adoption: Barra emphasized that a robust charging infrastructure is crucial to drive EV adoption. By collaborating with Tesla and adopting the North American charging standard, GM aims to address customers' concerns about charging availability.
The partnership between two prominent automakers and the shared standard are expected to make EVs more appealing to potential buyers.
To drive EV adoption, a "robust charging infrastructure" is vital, said Barra.
What's Next: The GM CEO disclosed the company is aiming for its first vehicle to be ready by 2025. "What's even more exciting is that our existing EV customers can leverage the 12,000 Tesla fast chargers [superchargers] early next spring with an adapter," Barra said.
Photo: Barra, courtesy GM; Musk, Public Domain
This article was generated by ChatGPT and was reviewed by a Benzinga editor.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.