With Tesla Stock Surging EV Giant Prices Increase As Stellantis Considers TSLA Charging Standard

Tesla ( TSLA ) late Tuesday night raised U.S. prices for its popular crossover SUV, after cutting them earlier this year. Meanwhile, Stellar (STLA) said it may adopt TSLA’s EV charging standard afterward Ford (F) and General Motors (GM) collaborated with Tesla’s system.

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The global EV giant raised prices on the US Model Y all-wheel drive by $250 late Tuesday, giving the vehicle a starting price of $47,740, according to Tesla’s website. The “Long Range” and “Performance” Model Y trims had no price changes.

The Model Y vehicle is also eligible for a full $7,500 tax credit under the Inflation Reduction Act (IRA).

The Tesla Model Y was the world’s best-selling vehicle of any type in Q1, according to data compiled by industry analyst JATO Dynamics for Motor1. Model Y had 267,200 sales in Q1, according to data from 53 markets and estimates for the rest of the world.

Reuters also reported on Tuesday that Stellantis could potentially join Tesla’s North American charging standard (NACS). Reuters said Stellantis continues to “evaluate the NACS standard and looks forward to discussing more in the future.”

This comes after GM and Ford recently partnered with Tesla to gain access to its supercharger network.

Tesla rose 1.6% on Wednesday during premarket trading. On Tuesday, TSLA jumped 3.55% to 258.71, marking 13 consecutive gains.

Stellantis rose around 2% on Wednesday while General Motors rose 0.4. Ford added 0.8%.

Tesla shares

Tesla shares rose 14% to 244.40 last week. TSLA is now well extended past a buy point at 207.79 from what is either a cup or a double bottom base. Shares are more than 30% above their 200-day/40-week moving average — the most extended they’ve been since the stock peaked in November 2021.

Meanwhile, the Fed meeting announcement is at 2pm, with Fed Chair Jerome Powell due to speak at 2.30pm

Tesla ranks third in IBD’s industry group for automakers. It has a 98 Composite Rating out of 99. Tesla stock has a 91 Relative Strength Rating and its EPS rating is 93 out of 99.

Follow Kit Norton on Twitter @KitNorton for more coverage.

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