The latest layoffs at Tesla this week cut close to the bone of the EV pioneer’s big competitive advantage — its ubiquitous Supercharger network.
, Tesla laid off nearly the entire Supercharger organization, which was responsible for the build-out of its best-in-class charging network. Major automakers recently signed up to use its NACS plug.
Pinter believes that the administration’s “free money” will likely mean Musk reconstituting the charging business, as opposed to abandoning it. And Tesla’s automaker charging partners hope that is the case. Most of the automakers who responded to Yahoo Finance echoed one another, with Kia also stating that its plans haven’t changed and it will build toward NACS compatibility.
Moreover, Ramsay cites BNEF estimates that Tesla only generated $1.74 billion last year in charging revenue, or 1.5% of total revenue. While the charging business was expected to grow in upcoming years, the business is still a “fairly insignificant” part of Tesla’s small services division that barely makes any money, relatively speaking.
“EVgo is actively engaged in the development of the J3400 standard as a voting member and we look forward to welcoming more Tesla drivers to our network as we add NACS to our nationwide fast charging network,” said Sara Rafalson, EVgo’s senior vice president of market development and public policy, to Yahoo Finance.
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