Tesla Inc. is updating its charging network to halve typical wait times as the fleet of Model 3 sedans grows and challengers such as Porsche prepare their own infrastructure.
By doubling power at Tesla’s stations and preheating vehicle batteries before they arrive at a plug, charging times will drop to about 15 minutes, the Elon Musk-led electric car company said on its blog. The V3 Supercharging network, which will roll out through the end of the year, will enable twice as many cars each day to charge.
The first V3 Supercharger site apart from test stations breaks ground next month. After debuting in North America, the technology will reach Europe and the Asia-Pacific region in the fourth quarter, the company said. Tesla shares climbed as much as 3.1% to $284.70 on Thursday, rebounding somewhat from a four-day decline.
Tesla says its network will deliver 250 kilowatts, up from 120 kilowatts, as more fast-charging infrastructure is built. It is looking to ward off a wave of competition from incumbent carmakers readying their own electric vehicles and putting charging infrastructure in place to support them. Ionity — a consortium of Volkswagen, Mercedes Benz maker Daimler, Ford Motor Co. and BMW — will have 400 station across Europe’s major highways with 350-kilowatt capacity by the middle of next year.
A Volkswagen affiliate is helming a similar effort in the United States. VW-owned Porsche, which is starting sales of its electric Taycan model this year, is also adding 350-kilowatt chargers to its dealerships in the United States and Europe ahead of a broader electric rollout.