Tesla’s (NASDAQ:TSLA) charging standard is rapidly becoming the charging standard for electric vehicle stocks everywhere. Not long ago, Tesla added several new electric vehicle makers to its roster. Today, it’s added one more, as Polestar Automotive (NASDAQ:PSNY) announced that it too would bring the North American Charging Standard to its own line of vehicles. Investors took the news well, as Polestar is up somewhat in Thursday afternoon’s trading.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
With this addition, Polestar vehicles will be able to access the Tesla Supercharger network, which has locations throughout the United States and Canada. Both current and upcoming Polestar models will be able to access the Supercharger network, and for those who currently use the CCS system, an adapter will be included that allows for easy swapping and access to the full range of both networks.
While this is a welcome move for anyone with a Supercharger outlet nearby, it’s going to make things a little more complex for Polestar itself. Both the Polestar 3 and Polestar 4 are expected out in 2024. Meanwhile, the Polestar 5 and Polestar 6 are expected after that, though just when no one’s sure as yet. Basically, some models will only need to deal with an adapter for about a year before going completely over to the NACS system, and that may mean some will delay their purchases so as to bypass the whole adapter concept, to begin with.
That’s also not good news for Polestar in general, as analysts are very much on the fence about it. Two Buy ratings and two Hold make Polestar stock a Moderate Buy, if only just. Meanwhile, with an average price target of $5.50 per share, Polestar stock comes with 43.79% upside potential.
