Over the past few months, several of the world’s leading automakers have embraced Tesla’s (NASDAQ: TSLA) network of superchargers, also known as the North American Charging Standard (NACS).
Ford initiated this trend in May 2023, unveiling plans to grant their electric vehicle (EV) owners access to approximately 12,000 Tesla chargers through an adapter, with the promise of integrating NACS into their next-gen EVs by 2025.
This pioneering move sparked a chain reaction, with GM (NYSE: GM), Rivian (NASDAQ: RIVN), Honda, Mercedes, Hyundai, Kia, Toyota, and Subaru all announcing their intentions to adopt the NACS standard.
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And now, the latest company to hop on this bandwagon is the luxury EV manufacturer Lucid Motors (NASDAQ: LCID).
Lucid customers to gain access to 15,000 Tesla superchargers
Notably, Lucid announced on November 6 that it has reached an agreement to provide its clients with access to more than 15,000 Tesla Superchargers in North America.
The company said it would “integrate [the] North American Charging Standard into its vehicles in 2025, and current vehicles with CCS will be able to access the Tesla Supercharger network via an adapter in 2025.”
“We believe that a unified charging standard, backed by the nationwide rollout of future-ready higher-voltage charging stations, will be a critical step in empowering American consumers to adopt electric vehicles.”
– said Peter Rawlinson, CEO and CTO of Lucid.
With its decision to adopt the NACS standard, Lucid opted for broader access over charging quickness. To be more specific, the company’s luxury Air sedans have a 900-volt electric architecture, which offers a higher thermal efficiency and as such, can provide significantly faster charging and better range.
Lucid stock price analysis
At the time of publication on November 7, shares of Lucid were sitting at $4.26, after dropping 1.5% at the market open.
Over the past five days, the stock’s price rose around 2.6%, but it lost more than 15% on the monthly chart, pushing its market cap down to $9.7 billion.
The company is set to report its latest earnings today after the market close. Wall Street analysts expect the EV maker to post revenue of $177.5 million, down 9.2% year-over-year, and a loss of $709.8 million, up 50% from a year earlier.
Depending on how the actual report compares to these estimates, shares of Lucid can stage both positive or negative performance in after-hours trading.
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