EV giant Tesla Inc (NASDAQ:TSLA) has been reducing the price for charging at its supercharger network in a bid to accelerate electric vehicle adoption, company executive Max de Zegher said on Saturday.
What Happened: de Zegher said that supercharger prices have been reduced “overall” in the U.S. The goal behind the move is to price it lower to accelerate EV adoption and be financially sustainable to invest in expanding the network, the director of charging said.
The reduction in charging costs is also a potential strategy for wooing potential customers to buy Teslas over gas vehicles amid slowing EV demand.
Why It Matters: At the end of the third quarter, Tesla had 6,706 supercharger stations around the globe and 62,421 connectors.
Tesla’s company-wide layoffs in April impacted 500 members of the supercharging team and Rebecca Tinucci, Tesla’s then Senior Director of Charging Infrastructure, left the company.
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