Tesla Faces New Challenges As Automakers Push Ionna Joint Venture, NEVI Funds Get Cut
TSLATesla(TSLA) Benzinga·2024-11-19 00:00

Tesla Inc‘s TSLA dominance in electric vehicle (EV) charging is in question. While automakers like General Motors Co GM and Mercedes-Benz Group AG MBGAF have adopted Tesla's North American Charging Standard (NACS), the need for a diversified network was clear.The two companies joined five other companies — Bayerische Motoren Werke AG BMYY aka BMW, Honda Motor Co Ltd HMC, Hyundai Motor Co, Kia, and Stellantis NV STLA — to launch Ionna, an independent charging network designed to provide reliable alternatives ...