Benzinga - by Chris Katje, Benzinga Staff Writer.
Ford Motor Company (NYSE:F) is officially allowing its electric vehicle (EV) customers access to Tesla Inc‘s (NASDAQ:TSLA) vast Supercharger network.
What Happened: The Dearborn, Michigan-based auto manufacturer announced Thursday that its Ford F-150 Lightning and Mustang Mach-E customers are the first non-Tesla automaker vehicles to get access to the Tesla Supercharger network.
Ford said access to over 15,000 Tesla Superchargers will more than double access for customers looking to charge their vehicle. The addition of superchargers to the BlueOval Charge Network brings a total of more than 126,000 chargers that Ford customers have access to nationwide.
The automaker said it operates the "largest public charging network" in North America.
New and existing customers of Ford EVs are able to get a fast-charging adapter at no cost through June 30, 2024. Customers must have the adapter to use a Tesla supercharger. The adapter will cost $230 after the offer expires.
Customers will use the BlueOval Charge Network, which uses Plug & Charge and will be integrated with Tesla Superchargers, to transact at stations without the need for a credit card.
The partnership was first announced during a May 2023 Twitter Spaces event with Tesla CEO Elon Musk.
"I would like to thank Elon and the Tesla team for their close collaboration and Tesla's leadership to help change the lives of so many EV customers through improved access to charging," Ford CEO Jim Farley said Thursday.
Ford's website includes a map of stations, guides to the adapter and how-to videos for supercharger adapters and charging.
Related Link: Ford Q4 Earnings Highlights: Revenue Beat, EPS Beat, Supplemental Dividend, EV Update And More
Why It's Important: With the partnership with Tesla, Ford's charging network greatly expands and gives its EV customers access to its BlueOval network and superchargers.
Ford cites access to charging stations as a key to customers buying electric vehicles. A Cox Automotive Consumer Sentiment Study said that a lack of charging stations was the second-largest barrier for customers when considering buying an electric vehicle, trailing only the price of the vehicle.
“As EV prices come down, improving access to reliable fast charging is critical to help more customers confidently choose an EV," Ford said.
Ford’s next-generation EVs will come standard with the North American Charging Standard (NACS) connector, which is used by Tesla.
F, TSLA Price Action: Ford shares are up 1% to $12.43 versus a 52-week trading range of $9.63 to $15.42.
Tesla shares are up 1% to $204.27 versus a 52-week trading range of $152.37 to $299.29.
Read Next: Ford CEO Jim Farley Says Gen-2 Vehicles Will Be Profitable In ‘First 12 Months Of Their Launch’
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