Tesla's NACS Charging Revolution Explained: Who's In And Who's Out So Far - Blink Charging (NASDAQ:BLNK), ChargePoint Hldgs (NYSE:CHPT), EVgo (NASDAQ:EVGO), Ford Motor (NYSE:F)

In recent years, the electric vehicle industry has witnessed a significant shift in charging standards, particularly in North America. Previously, the prevailing standards for AC and DC charging were the SAE J1772 (Type 1) and Combined Charging System (CCS1) connectors, respectively.

However, Elon Musk-led Tesla Inc (NASDAQ:TSLA) has developed its proprietary North American Charging Standard (NACS) connector and aims to establish it as a continent-wide charging standard. This transition has sparked interest and led to several companies in various industries evaluating or adopting it. Tesla’s Superchargers constitute about 60% of total available U.S. fast chargers, according to Reuters.

Here’s a quick overview of who’s joined the NACS bandwagon and the ones still on the charging fence:

Automakers On Board:

Tesla: As the creator of the NACS, Tesla has been utilizing this charging standard since 2012 across all its new car models. Tesla announced the opening of its proprietary charging standard and the NACS name on Nov. 11, 2022, signaling its intention to establish NACS as the dominant standard.
Aptera: In January 2023, Aptera Motors became the first EV maker to integrate Tesla’s charging standard, as it said its upcoming solar electric vehicle would feature the NACS connector.
Ford Motor Co (NYSE:F): Ford, one of the largest North American vehicle manufacturers, made headlines in May 2023 by announcing its switch from CCS1 to the NACS charging connector. Starting with their next-generation EV models in 2025, Ford plans to incorporate the NACS connector. Adapters for existing CCS1-compatible models will be made available in 2024.
General Motors (NYSE:GM): Following Ford’s announcement, General Motors also declared its commitment to the NACS charging connector in June 2023. General Motors plans to equip its next-generation EVs, starting from 2025, with the NACS charging inlet. They also intend to provide NACS adapters for their existing CCS1-compatible models.
Rivian Automotive Holdings (NASDAQ:RIVN): Rivian, an emerging electric vehicle manufacturer, announced in June 2023 that it will implement the Tesla charging port on the R1S, R1T, and upcoming R2 platforms starting in 2025.
Volvo Group (OTC:VLVLY): The Swedish automaker intends to adopt the NACS charging inlet for its North American battery electric vehicles (BEVs) from 2025. NACS adapters for existing CCS1-compatible models will be available from H1 2024.
Polestar Automotive Holding UK PLC (NASDAQ:PSNY): The Swedish electric car brand intends to equip its vehicles with NACS charging port starting in 2025. Existing drivers can access Tesla’s charging network using adapters which are expected in mid-2024.

Automakers Considering:

Hyundai: Hyundai, a prominent EV manufacturer, has expressed interest in evaluating the NACS charging connector. However, its decision depends on the compatibility of the NACS connector with high-voltage charging requirements.
Lucid: Lucid, another major player in the EV industry, appears to be more hesitant about adopting the NACS charging connector. Media reports suggest it is evaluating the possibility of incorporating a high-voltage version of the NACS connector.
Mercedes-Benz and Stellantis: Mercedes-Benz and Stellantis have both acknowledged their evaluation of the technical implementation of the NACS charging connector. Their decisions are yet to be finalized.
Toyota: In a comment, Tesla CEO Elon Musk suggested that Toyota should consider joining the NACS coalition. While it’s unclear whether Toyota will take this suggestion seriously, it opens the possibility of their future involvement.
Volkswagen AG (OTCPK: VWAGY): The German automaker is considering adopting Tesla’s charging standard as well. Volkswagen unit and charging station network Electrify America, however, has already said that it would add an NACS connector to its fast charging network in U.S. and Canada.

EV Charging Networks:

Tesla Supercharging Network: Tesla’s Supercharging network, which has been in operation since September 2012, already utilizes the NACS charging connector natively.
Blink Charging, ChargePoint, and EVgo: Leading EV charging networks such as Blink Charging (NASDAQ:BLNK), ChargePoint (NYSE:CHPT), and EVgo (NASDAQ:EVGO) have committed to offering NACS DC and AC charging solutions. This means that NACS-compatible units will be included in their networks.
Rivian Adventure Network: Rivian Adventure Network, operated by Rivian, is expected to deploy NACS-compatible chargers alongside their growing network of charging stations.

Benzinga’s Take: The transition from CCS1 to Tesla’s NACS charging connector marks a significant shift in North America’s EV charging standards. As the industry progresses, it will be crucial to monitor the adoption of the NACS charging connector and its impact on the EV ecosystem in North America.