Tesla’s CEO, Elon Musk, announced on his social media platform that the company will invest over $500 million this year to expand its Supercharger network. This expansion will add thousands of new charging stations. The investment focuses on new sites and does not include the operational costs, which are significantly higher. This announcement follows recent layoffs within Tesla’s electric vehicle charging team, which may slow down new installations and impact the broader efforts to establish a nationwide EV charging infrastructure. The expansion aims to solidify Tesla’s North American Charging Standard as the industry norm over the rival Combined Charging System. Meanwhile, the Biden administration has committed $5 billion over five years to build 500,000 EV chargers across the U.S., with Tesla being a major beneficiary of these funds.
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