Tesla shares rose Monday on the heels of reports that competitors are pursuing partnerships to build electric car-charging stations. And investors bet that the ability to easily make cars compatible with Tesla's supercharging stations -- given that Elon Musk is sharing the electric car company's patented designs -- is driving the interest.
$TSLA Nice, but delayed "patent on the back" for Tesla.— Darryl Schmiermund (@schmiergolf) Jun. 16 at 11:59 AM
The Financial Times reported Sunday that Nissan and BMW are interested in cooperating on building charging networks. Tesla shares rose more than 3% by noon Monday. Sentiment increased 1.4% to 77% bullish, according to StockTwits' analytics.
$TSLA Tesla Motors: Nissan (NSANY) and BMW (BAMXY) are in talks with TSLA about charging stations, according to reports - New intraday high— Timothy Kelleher (@TimKelleherCorp) Jun. 16 at 09:57 AM
[US] News | Tesla | Tesla Patent Giveaway Spurs Speculation Of Possible Deal With BMW http://stks.co/d0e4a— Hey Youa„¢ (@heyyouapp) Jun. 13 at 02:16 PM
Tesla CEO Elon Musk announced the electric car company would share its patents with competing car makers last week in an effort to encourage the widespread manufacture of electric vehicles.
Both BMW (BAMXY) and Nissan (NSANY) have significant traction in the all-electric car market. Nissan's Leaf, which costs less than $30,000, is the industry leader. Nissan sold 3,117 Leafs in May alone, and has sold well over 10,000 vehicles this year. BMW sold 336 of its i3 electric car in May, according to Green Car Reports.