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Tesla, Japan Drive EV Charging Station Expansion

The number of fast-charging stations for electric vehicles will soar to nearly 200,000 worldwide by 2020, up from just 1,800 or so last year, says research firm IHS Automotive.

Japan is home to half of today’s fast-charging stations, and it will continue to utilize CHAdeMO technology, says IHS Automotive. Japan began deploying CHAdeMO, roughly translated as “charge for moving,” in 2009.

Germany is set on using CCS (combined charging system), while Tesla Motors (TSLA) is pushing its proprietary Supercharger system in the U.S., and has made adding more such stations a priority. Tesla this month blew past Q2 estimates, as IBD reported, and Tesla stock has been on a roll. Shares were up 1.7% in afternoon trading in the stock market Tuesday, after Tesla stock hit an all-time high intraday following closing highs on both Friday and Monday. Tesla stock gets an IBD Relative Strength Rating of 99, the highest possible.
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CCS has garnered the support of Audi, BMW, Da imler, Chrysler, Ford (F), General Motors (GM), Porsche and Volkswagen (VLKAY) .

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