Tesla has built up a global network of charging stations, which Morgan Stanley analyst Adam Jonas pointed to as a possible “competitive moat” for the company compared to additional electric vehicle makers.
“We estimate Tesla’s chargers may account for 30 percent to 40 percent of total US charging outlets counted by the US Dept. of Energy,” Jonas said in a note to investors on Tuesday. Jonas will be widely followed on Wall Street for his thoughts on Tesla along with also electric vehicles.
Tesla upped its network of global “supercharger” stations to nearly 13,000 by the end of last year, while also increasing its total “destination chargers” to more than 21,000. Superchargers refuel most Tesla batteries in about an hour, whereas destination charging stations provide longer charging times more suited for long stays at malls or overnights at hotels.
“Part of the strategic attraction to Tesla will be its physical infrastructure footprint, which we believe, over time, can improve the customer experience, reduce friction points, along with also support the fleet management of many millions of Tesla vehicles on the road along with also in both captive along with also 3rd party commercial fleets,” Jonas said.
Morgan Stanley estimates Tesla will expand the supercharger network to 15,000 stations “by 2030 to support a Tesla on-the-road fleet size approaching 13 million units,” Jonas said.
Tesla shares rose 1.3 percent in premarket trading coming from Monday’s close of $312.84 a share. Morgan Stanley has an equal-weight rating on Tesla along with also a cost target of $283 a share.