The electric vehicle sector is getting more attention in recent weeks with traditional automakers announcing partnerships with Tesla Inc TSLA for charging infrastructure.
Here’s the latest news and what an investment in Tesla when it unveiled the Supercharger charging stations would be worth today.
What Happened: Automobile giants General Motors Co GM and Ford Motor Co F announced a partnership with Tesla on the company’s Supercharger charging station network.
Ford CEO Jim Farley and Tesla CEO Elon Musk had a conversation in Twitter Spaces to share the details, during which Farley said Tesla will allow Ford electric vehicle owners access to Supercharger stations.
General Motors followed Ford with a partnership announcement of its own with Tesla. The automotive giant said GM car owners will have access to the network of Tesla Supercharger stations.
“This collaboration is a key part of our strategy and an important next step in quickly expanding access to fast chargers for our customers. Not only will it help make the transition to electric vehicles more seamless for our customers, but it could help move the industry toward a single North American charging standard,” General Motors CEO Mary Barra said.
Ford and General Motors will make the Tesla charging model standard on vehicles for North America in future production.
On Tuesday, Tesla rival Rivian Automotive Inc RIVN announced it will give Rivian users access to the Supercharger network.
The news of other automotive companies utilizing the Tesla Supercharger network could be another catalyst for Tesla leading to an increase in future revenue and earnings.
Piper Sandler analyst Alex Potter listed the opportunity for General Motors and Ford alone as representing $3 billion in additional revenue for Tesla by 2030 and $5.4 billion in annual revenue by 2032.
Tesla has opened up its network to other companies over the years and the Supercharger could be a large revenue driver for the company.
Backing up to 2012, some were skeptical at just how big of a catalyst the Supercharger network for Tesla could be.
On Sept. 13, 2012, Tesla CEO Elon Musk shared details on a Tesla event for its Supercharger network.
“Tesla Supercharger unveiling event set for Sept. 24. It will feel like alien spaceships landed at highway rest stops,” Musk tweeted.
On Sept. 24, 2012, Musk unveiled the Superchargers at a company event.
“I think this day will actually go down as being quite historic … I really think this is important,” Musk said, comparing the launch of Superchargers and its importance to SpaceX docking with the International Space Station.
Tesla unveiled six initial Supercharger stations at the company event.
“Tesla’s Supercharger network is a game changer for electric vehicles, providing a long distance travel that has a level of convenience equivalent to gasoline cars for all practical purposes,” Musk said.
In the most recently reported first quarter, Tesla had 4,947 Supercharger locations and 45,169 Supercharger connectors globally.
Related Link: The SuperCharger Revolution: 5 Takeaways From GM CEO Mary Barra, Tesla CEO Elon Musk On Twitter Spaces
Investing $1,000 in Tesla: Investors who recognized the Supercharger being a future catalyst for Tesla could have purchased shares of the electric vehicle stock back in 2012.
A $1,000 investment in Tesla stock could have purchased 32.21 shares on Sept. 24, 2012, based on a price of $31.05 at the time.
Stock splits in 2020 (five-for-one) and 2022 (three-for-one) would have turned the investment into 483.15 shares.
The $1,000 investment in Tesla stock from the Supercharger unveiling would be worth $130,378.03 today. This represents a massive return on investment over the last 10 years and nine months.
Read Next: If You Invested $1,000 In Tesla Stock At IPO, Here's How Much You'd Have Today
Photo: Courtesy Tesla
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