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Nissan To Deliver Dramatic Reduction In Pricing Of Fast Chargers

Nissan (NSANY.PK) has announced a major breakthrough in the pricing of Level 3 fast chargers for the EV market and Auto Observer reports the company as saying that they already have substantial pre-orders in the US. Thus far we have the following details:

  • The new Nissan fast charger will sell for $9,900.
  • The company´s previous fast charger sold for $40,000.
  • Competitors in the US generally sell fast chargers in the $30-40k range.
  • The new fast charger uses a 480-volt direct-current (DC) and is capable of charging a 24-kilowatt-hour lithium-ion battery pack to 80% capacity in around 30 minutes.
  • The system uses the CHAdeMO standard, developed in Japan by a consortium including Toyota Motor Corp., Nissan Motor Co., Mitsubishi Motors Corp., Fuji Heavy Industries Ltd. (parent of Subaru) and Tokyo Electric Power Co. 

CHAdeMO is becoming the standard in the industry and it is possible that Nissan´s push on costs is aimed at ensuring that their standard rapidly becomes globally accepted. In the US ECOtality´s Blink Level 3 fast chargers come outfitted with CHAdeMO compliant EV connectors. Meanwhile, AeroVironment will be Nissan´s exclusive wholesale and retail distributor and the preferred U.S. installer.

All of this is no doubt good news for the EV market. Firstly, this seems to be reasonable confirmation that we are moving towards standardized charging systems at an fairly early stage. And secondly, of course, the dramatic price reduction shows the path forward to a more economic platform for the industry.
Disclosure: I have no positions in the stocks discussed. In the overall EV market, I am long Tesla.