Tesla founder Elon Musk could miss out on a major windfall if the company keeps its electric charging stations exclusive.
President Biden’s Department of Transportation is set to offer $7.5 billion in subsidies aimed at propagating electric vehicle charging facilities nationwide, Reuters reports, citing administration officials.
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The Department of Transportation intends to require beneficiaries of the massive subsidy package to conform to Combined Charging System (CCS) standards.
The CCS provides a standard for electric vehicles from different companies and brands worldwide, including Ford, Hyundai, Honda, General Motors and more.
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Tesla currently operates a proprietary charging system that keeps its approximately 40,000 charging stations exclusive to the company and its consumers.
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Musk has previously expressed openness to the idea of opening access to Tesla charging stations to the wider market.