Polestar (PSNY) to adopt Tesla's (TSLA) NACS in US and Canada

Swedish automaker, Polestar (NASDAQ: PSNY) announced Thursday that they have signed an agreement with Tesla (NASDAQ: TSLA) to adopt the North American Charging Standard (NACS), allowing access to Tesla’s expansive Supercharger network for all Polestar drivers in the United States and Canada.

The press release detailed the company’s plans to include the Tesla standard in all new polestar vehicles from 2025 onward. Adapters are expected in mid-2024 to allow existing Polestar drivers to access the network.

“This is a great win for our North American customers! We salute the pioneering work Tesla has done to speed up the adoption and increase the popularity of electric vehicles, and it’s great to see the Supercharger network being made available in this way. With 12,000 charging points today, a number that will only keep growing, this move will greatly increase the rate of EV adoption in a key automotive region,” says Thomas Ingenlath, CEO.

Polestar joins automakers Ford (NYSE: F), General Motors (NYSE: GM) and Rivian (NASDAQ: RIVN) in choosing to adopt the Tesla charging connection. The decision also follows announcements by the state of Texas that the NACS will be required, in addition to CCS connections, by all charging companies wishing to participate in federally funded EV charging programs. Washington state has also expressed intentions to adopt the NACS as a requirement for federal funds.

To maintain compatibility with existing CCS public fast charging infrastructure in North America, future NACS-equipped Polestar vehicles will come with a CCS adapter.

Shares of PSNY are up 1.06% in early trading on Thursday.

By Michael Elkins | [email protected]

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