- Several automakers have said their EVs will be built to Tesla’s charging standard from 2025.
- The question arises as to why non-Tesla EV buyers haven’t delayed their purchases until then.
- Otherwise, buying a non-Tesla EV now means that charging technology will soon be in the minority.
Automakers other than Tesla should benefit greatly from switching to Tesla’s charging technology. But experts say this may be just one example of why car buyers should hold off on non-Tesla EVs for at least the next two years.
Ford, GM, Rivian, Volvo, Polestar and others have all announced they will build electric vehicles using Tesla’s North American Charging Standard (NACS) starting in 2025, giving customers access to Tesla’s Supercharger network. Networks have long been one of Elon Musk’s greatest strengths. If a driver currently owns one of these company’s EVs, that driver will actually be able to connect to Tesla’s charging sites starting at various points in the next year, as long as they have the adapter.
In addition to these players, charging companies like Electrify America and other competitors have also pledged to switch to NACS. (Until recently, companies other than Tesla basically operated using a combined charging system known as CCS.)
With automakers, charging providers and others moving to Tesla’s technology, the popularity of CCS will decline significantly over the next few years.
“There is this risk at any point when you buy evolving technology: the technology feels outdated at best, and outdated at worst,” Karl Brauer, executive analyst at iSeeCars.com, told an insider. “Nearly every EV owner, except for Tesla owners, is looking to tinker with adapters or somehow pay to have a new plug system installed in their car to preserve the rest of their ownership.”
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The transition from CCS doesn’t happen overnight, adapters exist. But why would a car buyer buy a new electric car (other than Tesla) with CCS before then?
Not to mention what happens when these cars hit the used market, given the long life expectancy of the cars, but two years at most without the NACS advantage.
“If you’re going to spend $30, $40, $70, $100,000, all of these car plugs, except for Tesla, are technically obsolete and will all be replaced with new systems within the next one to three years. Everyone now knows they shouldn’t be buying a car in the next one or two years,” Brauer added.
The next few years will be a particularly unique time in the evolution of EVs. Over the past 5-10 years, early adopters of EVs had little to no technology. 5-10 years from now, EV buyers will buy more advanced and stable technology. But some experts say the industry won’t be surprised when consumers hold off on buying during this time in between, with falling prices and pricing shifts.
This could be a crisis for auto makers who are currently spending billions of dollars on electrifying their lineups, especially those whose inventories will pile up in the near term. It may also present challenges in the future. As NACS becomes more popular, used EVs with CCS may not sell as well as his NACS-equipped ones.
Charging is only part of the problem
As EV technology improves across the board, from greater range to faster charging to bi-directional charging to lower costs to battery breakthroughs, buyers may wait (or go for Tesla if they feel the company’s technology will stick around for the foreseeable future).
“Charging connectors will likely become a significant problem, delaying some buyers from pulling the trigger on new EVs,” said Lauren McDonald, CEO of market analytics firm Evaduption. “But I think most of those buyers realize there are six to 10 other hardware and software advancements to make that EV even better.
McDonald said he expected a short-term increase in purchase delays and EV leasing.
“The more you see these price fluctuations and hardware issues, the more people will realize that leasing is probably the better way to go,” McDonald added. “Because essentially it means you can get a new iPhone every three years and not have to worry about the rest and own a car that is technically obsolete.”
“Future models that are better, faster, cheaper, have more range, etc. have noises that we have not seen before,” he said. “I think that’s the real problem.”
Have you purchased an electric vehicle from an automaker that has announced they will switch to NACS in the next two years? Planning to buy a NACS-equipped EV in 2025? Any tips or thoughts to share? Contact this reporter at astjohn@insider.com.