Ross Gerber Thinks GM's Decision To Adopt Tesla's EV Charging System 'Is Checkmate' — 'This Is Setting A Standard'

Ross Gerber, President and CEO of wealth and investment management firm Gerber Kawasaki Inc., has reportedly lauded General Motors Co's GM decision to adopt Tesla Inc's TSLA North American charging plug standard which will give GM's EV-buyers access to Tesla Supercharger network.

"This is checkmate," he told CNBC.

General Motors had announced that it will integrate the North American Charging Standard (NACS) connector design into its EVs beginning in 2025, which will expand access to charging for GM EV drivers at 12,000 Tesla Superchargers stations. This agreement builds on the more than 134,000 chargers currently available to GM drivers through the company’s Ultium Charge 360 initiative and mobile apps.

Also Read: Everything You Need to Know About Tesla Stock

“This is setting a standard with really the biggest and still the most plentiful makers of EV other than Teslas or GM and eventually Ford. So, when you look at the future, all the companies whether you are a charging company or an EV company can just switch to Tesla right now. It will just make it easy on everybody," Gerber said.

Wall Street cheered the news with shares of Tesla Inc TSLA closing 4.58% higher and gaining another 5.02% in extended trading on Thursday. General Motors Co GM shares closed 1.02% lower but gained 3.77% in extended trading, according to Benzinga Pro.

Efficiency: Gerber also praised Tesla's charging efficiency and explained why the thinks it is unlike other firms.

"I asked Elon this one on Twitter and he said that the margin they make on charging is 10% because remember, they also do solar and storage. So, their efficiency of charging is unlike any other company," Gerber said.

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