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Automotive Industry
Japan's Toyota Motor (7203.T), the world's largest automaker by sales, said on Thursday it had signed an agreement to adopt Tesla's (TSLA.O) electric-vehicle charging technology from 2025.
Ford Motor (F.N), General Motors (GM.N) and Nissan (7201.T) are among the other automakers that have adopted Tesla's North American Charging Standard (NACS), taking the Elon Musk-led company's superchargers closer to becoming the industry standard at the expense of the rival Combined Charging System (CCS).
The Japanese automaker will incorporate the NACS ports into certain Toyota and Lexus battery-electric vehicles (BEVs), including the new Toyota SUV that will be assembled at its manufacturing plant in Kentucky.
Existing owners of Toyota and Lexus vehicles equipped with CCS will be offered access to an adapter to enable NACS charging, also starting 2025.
Tesla's NACS is widely available, with the U.S. Department of Energy saying they make up about 60% of the fast chargers in the United States.
The rival CCS system is backed by automakers including Volkswagen (VOWG_p.DE), though the German company has held talks with Tesla about adopting the NACS.