Tesla Shares Rise on Partnership Rumors | Auto Finance News | Auto Finance News

Tesla Shares Rise on Partnership Rumors

 

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Tesla Motors, Inc. shares rose almost 9% last Monday, its best finish since April 3 and the highest percentage gain since late February, after reports that the electric car company may be teaming up with Nissan Motor Co.and BMW AG to work on electric vehicle technology. Although manufacturers have begun to embrace electric cars and hybrids, charging stations have remained a major worry for consumers. Nissan’s Leaf, one of the most popular electric cars in the US, cannot use the same charger that a Tesla Model S uses, which already requires a $1,000 adapter to plug in to public charging stations.

The three companies may be readying to team up in an effort to expand the network of charging stations throughout the US, according to an unnamed source that spoke to The Financial Times this week, who also said that all companies could benefit from sharing technology. The rumors come fresh on the heels of Tesla’s recent announcement that it will now share its patents and will not pursue legal action against anyone that wanted to use its formerly proprietary technologies.

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