What's Driving the News?
There's been plenty of news. The first day of this winning streak was the day that Ford Motor (F) struck a deal with Tesla to gain access to the more than 12,000 Tesla Superchargers customers across North America. Since then, Ark Invest's Cathie Wood said she believed Tesla's Cybertruck could disrupt the retail truck market. Elon Musk regained his title as the world's richest person from Bernard Arnault of LVMH (LVMH) . Tesla sales in China grew 141.55% year-over-year for May. Panasonic Holdings (PCRFY) accelerated plans to expand production of electric batteries at its facility in Nevada that is jointly operated with Tesla.
Tesla is positioning itself as the "OPEC'' of the electric vehicle era.
And now, this: General Motors (GM) is collaborating with Tesla to integrate the North American Charging Standard connector design into its electric vehicles beginning in 2025. So, Tesla's standard becomes the standard. This means Ford and GM will line up at Tesla Superchargers as Tesla not only maintains its lead as the industry leader in the manufacture and provision of electric vehicles, but is positioning itself as the "OPEC '' of the electric vehicle era. If Tesla can not sell or lease you an electric vehicle, and you go somewhere else for that product, Tesla will darned sure sell you the electricity you need to keep on moving. Exxon (XOM) and Chevron (CVX) ... meet Tesla, your competitor as charging stations evolve into the gas stations of if not this decade, then the next.