Of all the electric vehicle (EV) manufacturers, Tesla has been the most aggressive at building a charging infrastructure. But its charging stations will only repower Tesla cars.
Now, that’s about to change. CEO Elon Musk has pledged to the White House that the company will install 7,500 charging stations across the nation by the end of 2024. It’s a jump-start to the Biden administration’s plan to add 500,000 new charging stations by 2030.
In addition to Tesla, Ford, GM, and ChargePoint also committed to supporting the installation of charging stations.
In addition to limited range, one of the knocks on EVs is the time it takes to recharge the vehicle’s battery. According to the U.S. Department of Transportation, Level 1 charging – using the outlet you might have in your garage, can take 40 to 50 hours to fully charge an empty battery.
As part of Tesla’s agreement with the U.S. government to build 7,500 charging stations, the company plans to install at least 3,500 of the company’s 250-kilowatt Superchargers along interstate highways. The remaining 4,000 stations will be Level 2 chargers that can take several hours.
Used Tesla prices are falling
While the White House is trying to encourage the use of EVs, at least one data point suggests it has its work cut out for it. A study by iSeeCars.com found the price of used Teslas is falling faster than other used cars.
A late model Tesla Model 3 – the company’s entry-level car – lost the most ground. The average price fell from $44,987 to $42,633, a decline of 5.2%. That suggests an oversupply of owners seeking a trade and less than enthusiastic demand.
Americans seem closely divided over the idea of phasing out gasoline engine vehicles by the year 2035 and many are on the fence about whether they themselves would purchase a chief alternative: an electric car or truck.
A recent Pew Research Center report found 47% of U.S. adults support a proposal to phase out the production of gasoline-powered cars and trucks, while 51% oppose it.
A more recent study by J.D. Power found that 80% of people who purchase an EV are happy with their car and said they would do it again.
"Making the initial leap of faith into owning a BEV (battery electric vehicle) is proving to be very satisfying," said Brent Gruber, senior director of global automotive at J.D. Power. "We know from our research that many consumers have concerns during the purchase consideration process with aspects like battery range and vehicle charging. However, once someone has purchased a BEV, they're pretty much hooked."