Tesla standard: BTC Power joins move to add to EV chargers

ACN 650 026 314

20/06/2023 20:50

(Adds Tesla and Rivian share performance in final paragraph)
    By Abhirup Roy
       SAN FRANCISCO, June 20 (Reuters) - BTC Power will add
Tesla's  TSLA.O  standard to its electric vehicle chargers next
year, its chief executive told Reuters on Tuesday, days after
Ford  F.N  and General Motors  GM.N  sent shockwaves through the
industry by adopting the technology.
    Privately-owned BTC, a supplier to 7-Eleven and fleet
operators, is the fourth major fast charger maker to embrace
Tesla's standard, following ABB E-mobility North America
 ABBN.S , Tritium DCFC  DCFC.O , and SK Signet  260870.KN .
    A national EV charging network is key to addressing worries
about range and luring customers away from combustion engine
driven vehicles and BTC's decision accelerates Tesla's push to
dominate the nascent yet fast-growing industry.
    "By including the NACS (North American Charging Standard)
connector to our chargers we can eliminate the need for
unreliable and unpredictable adapters that are being utilized by
drivers using our equipment," BTC CEO Frank Meza said.
    Santa Ana, California-based BTC has sold more than 22,000
chargers - more than half of them high-speed ones - to charge
point operators, fleets and retailers, and counts Electrify
America, Ford and Amazon.com  AMZN.O  among its customers. 
    Reuters first reported on Tuesday that electric pickup maker
Rivian  RIVN.O  would adopt Tesla's charging standard. 
    Along with the backing of the two Detroit automakers, that
also helps Tesla chief Elon Musk's push to upend the Combined
Charging System (CCS) favored by the Biden administration.
    The White House, which aims to spur deployment of hundreds
of thousands of chargers, said this month EV charging stations
with Tesla plugs would be eligible for billions of dollars in
federal subsidies as long as they offer CCS connectivity.
    Charger makers and CCS operators such as EVgo  EVGO.O  and
Chargepoint  CHPT.N  have rushed to announce the addition of
NACS, despite certain concerns, vying to win Tesla users and
limit the risk of losing billing if they only offer CCS.  
    Tesla shares gained 5% on Tuesday and have more than doubled
so far this year. Rivian was up 5.8% on Tuesday. Its stock has
lost 19% this year.    

 (Reporting by Abhirup Roy in San Francisco; Editing by Peter
Henderson and Alexander Smith)
 ((abhirup.roy@thomsonreuters.com; +1 415 941 8665;
@abhiruproy30;))