Tesla is facing a $7.5 billion ultimatum: open up its charging network or lose Biden's subsidies, report says

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COVER.METALNATION.ORG If Tesla does not open its electric vehicle charging network up to competition, Reuters reports that it could miss out on $7.5 billion in Biden administration subsidies.

COVER.METALNATION.ORG Tesla's SuperCharger network has more stations than any other charging network in the US, but they can only be connected to Tesla plugs.

COVER.METALNATION.ORG According to Reuters, administration officials said Tesla will be forced to add the charger used by rival electric-vehicle makers by next week.

COVER.METALNATION.ORG The Biden administration plans to provide $7.5 billion in funding to increase the number of US charging stations if it doesn't do so.

COVER.METALNATION.ORG We are aware that Tesla is trying to make its system more open. In that case, Stuart Anderson, head of Iowa's transportation development division, said they would be eligible for funding.

COVER.METALNATION.ORG Tesla already benefited from the Biden administration's EV push in February when the DOT expanded the definition of an SUV for its $7,500 tax credit consumer incentive plan. Tesla's models could be in greater demand as a result.

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