Ford shares were up 7.5% at $12.20, while Tesla’s were up 6.88% at $197.07.
US Transportation Secretary Pete Buttigieg praised the Ford-Tesla deal but told CNBC that President Joe Biden’s administration will not dictate an electric vehicle charging standard.
“We’re not going to establish winners and losers in terms of which norm prevails,” Buttigieg said. “Tesla has built an extraordinary network (…) That they are part of this effort is great news to me.”
Access to charging stations is seen as one of the main obstacles so far to wider acceptance of electric vehicles (EVs), according to analysts.