Hyundai Joins The Club - The Latest Company To Gain Access Tesla Superchargers In North America

Hyundai Motor Co., Ltd. HYMTF unveiled plans to adopt Tesla, Inc.'s TSLA electric vehicle charging technology in the U.S. and Canada.

"Our collaboration with Tesla marks another milestone in our commitment to delivering exceptional EV experiences to our customers," said José Muñoz, president and global COO of Hyundai Motor Company and president and CEO of Hyundai Motor North America. 

This strategic move set to commence in the fourth quarter of 2024 for the U.S. and the first half of 2025 for Canada, will grant Hyundai EVs with North American Charging Standard (NACS) ports access to over 12,000 Tesla Superchargers spread across North America.

"This new alliance will provide Hyundai EV owners confidence in their ability to conveniently charge their vehicles and complements our joint venture company to create a new, high-powered charging network with at least 30,000 stations across North America."

Compatibility and Accessibility

Hyundai's advanced Electric-Global Modular Platform (E-GMP) vehicles, including IONIQ 5 and IONIQ 6, along with the forthcoming IONIQ 7, are set to benefit immensely from Tesla's commitment to expanding its Supercharger network.

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Owners of existing and future Hyundai EVs with the current CCS will have access to the Tesla Supercharging Network starting in Q1 2025.

Rebecca Tinucci, senior director of Charging at Tesla, highlighted that opening their Supercharging network to other electric vehicles aligns with Tesla's mission of accelerating the global transition to sustainable energy.

"We're proud to welcome Hyundai as the latest adopter of the North American Charging Standard," Tinucci added.

In a move to bolster its electric vehicle battery raw material supply, Hyundai recently invested $400 million for a 5% stake in Korea Zinc. This strategic investment is aimed at securing a stable supply of essential materials required for EV battery production, underscoring Hyundai's commitment to the EV market. 

Price Action: TSLA shares are trading lower by 1.12% to $258.24 on the last check Thursday. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.