Tesla CEO Elon Musk is happy to share the automaker’s technology with its competitors. Clive Mason – Formula 1 / Formula 1 by Getty Images
Tesla CEO Elon Musk doesn’t seem threatened by Ford and GM. He can see them as customers.
Both heritage car manufacturers recently announced that owners of their electric vehicles will be able to use Tesla Supercharger stations from early next year. This could encourage some customers who would otherwise buy a Tesla to buy a Ford or GM EV.
But Wedbush Securities analyst Dan Ives sees something big in the game. Tesla is just getting started selling infrastructure and technology and believes that the “AWS moment” is just around the corner.
AWS stands for Amazon Web Services, which went from risky bet to huge success. Today’s major cloud computing platform started as an in-house cloud for the online retailer out of necessity. Selling the infrastructure it developed turned out to be a big business move for Amazon, surprising the company and outsiders with its success — and making then-CEO Jeff Bezos even richer.
Today, Tesla has the infrastructure and technology it developed for its own benefit that older automakers can also use.
“I believe this is just the first step,” Ives told CNBC on Friday. “It’s going to start with superchargers and eventually, I think the next step will be battery technology. I think now they’ve built the golden goose.” [and are] Waiting for others to call.” Ford CEO Jim Farley and GM CEO Mary Barra said they made the call.
As for the possibility that supercharger access could help GM and Ford sell more electric vehicles, Ives suggested that it would be good for Tesla: “My view is Musk.” interests GM and Ford will be successful in promoting the broader EV vision in the United States.
This week, Musk He tweeted. Tesla “wants to be as helpful as possible to other car companies” and “allows other companies to use the Supercharger network. I’m also happy to license Autopilot/FSD.” [full self-driving] Or other Tesla technology.
Ives said Tesla could generate billions in revenue from the Ford and GM charging partnerships in the coming years, and he thinks the company is starting with such service revenues. He called the two automakers early “ambassadors” of Tesla’s technology offering.
In a research note, Piper Sandler estimates that Tesla will raise more than $3 billion in revenue from non-Tesla owners by 2030 and $5.4 billion by 2032.
Such revenues and federal incentives will help Tesla expand its charging network.
Tesla shares are up 126% year to date, helping Musk reclaim the title of the world’s richest man.
“From batteries to superchargers to storage—the sum of the parts is now starting, I believe, to play with investors in the early stages,” Ives said.