Ford and Tesla’s Electrifying Partnership Amps up Stock Prices
Key Takeaways
- Electric charging is the future, but infrastructure limits the uptake of electric vehicles
- Ford and Tesla are collaborating on bringing EV charging to more people
- Both stocks saw a healthy boost during Friday’s trading
Gone are the days of boring press releases to announce company news: Ford’s CEO Jim Farley and Tesla’s CEO Elon Musk took to a Twitter livestream on Thursday to announce the upcoming Ford Tesla partnership. But what are they collaborating on?
Ford and Tesla aren’t the only companies looking to go greener. With Q.ai’s Clean Tech Kit, you can invest in up-and-coming clean tech advancements. The Kit invests in various companies every week, including those working on electric vehicles, renewable energy, and more. It’s an excellent way to lower your carbon footprint while diversifying your portfolio.
Download Q.ai today for access to AI-powered investment strategies.
What’s the Ford Tesla partnership all about?
One of the main issues with electric vehicles (EVs) worldwide is the lack of charging points. While over 138,000 charging points exist in the U.S., almost a third are in California, and many are privately owned. Most EV manufacturers make their vehicles compatible with Combined Charging Systems (CCS) chargers.
Naturally, the lack of EV infrastructure limits how many people jump onto this cleaner tech. While CCS may be limited, Tesla has an impressive 12,000 Supercharger stations, which use fast-charging tech with Tesla-specific North American Charging Standard (NACS) ports. That’s great for Tesla owners, but how does that help anyone else?
Well, Ford and Tesla’s collaboration opens up these stations to Ford EV owners in the US and Canada from next year. Using the Ford app, they get access to 12,000 Tesla Supercharger stations.
Ford is even planning on switching out the CCS ports on future-generation vehicles to Tesla’s NACS ports. For current Ford EV owners, adapters are available.
Seeing two rival companies collaborate like this for the good of the planet is pretty inspiring. Of course, it’s also a great boost for Ford’s potential future sales. People will be far more willing to invest in an EV with more charging stations, and this partnership ensures that.
The bottom line
As an investor, we’re sure you’re wondering what the Ford Tesla partnership means for their stocks. After Thursday’s news broke, TSLA rallied by 4.25%, and Ford saw a massive bump of 6.24% during Friday’s trading session.
The collaboration of two behemoths was bound to boost their stocks, but the long-term effects remain to be seen. After all, Tesla has meme-stock tendencies, and Musk invites plenty of controversy.
Tesla’s huge 2022 crash saw Musk lose $182 billion and his title of the world’s richest man. Still, he gained something else: The not-so-desirable title of biggest financial loser in history.
While Tesla’s an exciting green tech stock, it may be a little too much of a roller coaster for your risk profile. With Q.ai’s Clean Tech Kit, you can invest in environment-saving trailblazers and diversify across several categories of clean tech.
Download Q.ai today for access to AI-powered investment strategies.
