Selling memberships to non-Tesla owners is likely to be big business in the coming years
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The Tesla Supercharger network is officially open to non-Tesla EVs but for now, only Ford customers can use the network. More OEMs will join the program throughout 2024 and analysts say that it’ll likely be a multi-billion-dollar business for Tesla in the coming years.
Last year several automakers decided to adopt Tesla’s North American Charging Standard (NACS) plug and charger system. Ford’s CEO, Jim Farley, took to X to tout the partnership and let customers know that “it works great.” For non-Tesla EV owners with the ability to use the network, the advantage is clear: it’s fast, it’s reliable, and it’s vast.
According to Electrek, that advantage still comes at a considerable cost. Tesla is reportedly charging Ford owners approximately 30% more on average than it does someone who owns one of its cars. There’s a catch though. Non-Tesla owners who want to pay Tesla prices at the Supercharger station can do so, as long as they sign up for a monthly $13 membership plan.
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Starting today, eligible Mustang Mach-E and F-150 Lightning owners in the US or Canada can reserve a complimentary Fast Charging Adapter for their @Ford EV and access @Tesla Superchargers by heading to https://t.co/PWyx4ynzXw pic.twitter.com/AKgU7XNQOB
— Jim Farley (@jimfarley98) February 29, 2024
One analyst who spoke to CNBC said he expects Tesla to make between $6 to $12 billion annually by 2030. Another analyst from Wedbush said in August of last year that he thought the Supercharger network was worth between $10 and $20 billion by the same year. Those are huge numbers and could potentially represent under 10% of Tesla’s revenue by 2030.
Last year, the automaker made a record $1.79 billion on carbon credits alone. Some believe that as the transition to electrification continues, such a revenue stream could dry up. The income generated from non-Tesla EV charging fees could be one way Tesla plans to supplement its income. Regardless, it’s clear that Tesla stands to gain quite a bit of profit from opening up its Supercharger network.
Will that diminish interest in the brand itself since more automakers have access to it? Possibly, but as many experts will point out, lots of Tesla owners buy a Tesla not because it’s the best value per se but because it’s a Tesla specifically. Whether or not that will be the case in 2030 could be another story altogether.
