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Ford Motor Company (NYSE:F) shares drove over 7% greater on Friday after placing a take care of EV rival Tesla (TSLA) to make the most of the latter agency’s supercharger community.
Per the phrases of the deal introduced on Thursday night, Ford clients will now have entry to greater than 12K Tesla Superchargers throughout the U.S. and Canada, doubling the variety of chargers obtainable to drivers.
“Tesla has led the industry in creating a large, reliable and efficient charging system and we are pleased to be able to join forces in a way that benefits customers and overall EV adoption,” Ford’s Chief Customer Officer Marin Gjaja commented. “The Tesla Supercharger network has excellent reliability and the NACS plug is smaller and lighter. Overall, this provides a superior experience for customers.”
The deal follows a White House announcement in February that Tesla would open a portion of its community to different automakers. The transfer is slated to permit Tesla to entry federal funding.
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