Tesla is hitting record highs as the stock rises and the company hits its highest closing price since October
A new record for Tesla’s longest winning streak was set as the stock rose for the 12th straight session.
Tesla can thank its rivals Ford and GM for the good news.
Ford announced in May that its electric vehicle customers would be able to charge at Tesla’s charging stations from 2024 onwards.
Last week, GM announced a similar agreement.
Blink Charging, ChargePoint, and Tritium announced they will offer Tesla-compatible chargers too.
As Tesla seeks to become the standard for electric vehicles, this news bolsters optimism over its charging infrastructure.
This pushes Tesla’s charging stations to the top spot.
Wedbush raised its price target for Tesla stock to $300 from $215, estimating an additional $3 billion in revenue to come from the GM and Ford deals.
Estimates show Tesla’s charging-network revenue could reach $9.65 billion by 2032, with more than half coming from other electric vehicle manufacturers.
