Proactive Investors - Toyota Motor (NYSE:TM) has become the latest carmaker to accept that Tesla Inc (NASDAQ:TSLA)’s electric vehicle (EV) charging technology is going to be the world standard.
In a statement last night, Toyota, the world’s largest carmaker, said it had joined Ford, General Motors (NYSE:GM) and Nissan and signed an agreement to adopt Tesla’s North American Charging Standard (NACS).
Toyota’s agreement is another blow to the rival Combined Charging System (CCS) being developed in Europe by Volkswagen (ETR:VOWG_p).
Welcome Toyota and Lexus owners to Superchargers across North America ⚡️— Tesla Charging (@TeslaCharging) October 19, 2023
The Japanese group has already fitted CCS to some of its models but said owners will now be offered an adaptor to convert to Tesla’s technology.
In future, Toyota and Lexus battery-electric vehicles (BEVs) will also contain NACS charging ports as will a new Toyota electric SUV to be produced at its manufacturing plant in Kentucky.
Tesla has around 12,000 charging points in the US which means NACS already make up about 60% of the fast chargers there.