Analyst Note| Seth Goldstein |
Tesla and General Motors announced a charging partnership where GM integrates Tesla's North American Charging Standard, or NACS, connector starting in 2024, which will allow GM EV drivers to charge at 12,000 Tesla Superchargers throughout North America. Tesla also recently announced a similar charging partnership with Ford to allow Ford EV drivers to charge at Tesla Superchargers. After reviewing these announcements, we see no reason to change our $215 per share fair value estimate for Tesla. Our narrow moat rating is also unchanged.