Supercharging may be $12B revenue opportunity for Tesla in 2030, says Bernstein

Bernstein analyst Toni Sacconaghi notes that recently, Tesla’s (TSLA) North American Charging Standard, or NACS, has been adopted by competitors like Ford (F), GM (GM) and Rivian (RIVN) as well as third party networks, and appears to be on track to become a de facto standard in the U.S. The firm sees the near-term financial impact of NACS adoption in the U.S. as neutral to slightly negative, and growth in Supercharging is likely to be driven primarily by the growth in Tesla’s own installed base. Longer term, under “very generous assumptions,” Bernstein estimates that supercharging could be a $12B revenue opportunity for Tesla in 2030, albeit on low margins. The firm has an Underperform rating on Tesla’s shares with a price target of $150.