The future of the automotive industry is changing. Executives from car makers BMW and Tesla Motors Inc (NASDAQ:TSLA) recently met up to talk about electric cars. More importantly, they discussed the future of charging stations and various types of electric cars.
Electric cars of the future
Both car makers want to garner more consumer interest in battery-operated cars. Unfortunately, these cars have yet to win over consumers thanks to the lack of charging stations, long charging times and limited operating range. A representative for BMW claimed Tesla Motors Inc (NASDAQ:TSLA) and BMW are committed to electro-mobility and will strive to strengthen the market.
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Other car makers including Ford Motor Company (NYSE:F), Chrysler, General Motors Company (NYSE:GM), Audi, Porsche, Volkswagen AG (ADR) (OTCMKTS:VLKAY) (ETR:VOW) and Daimler are all striving to adopt the SAE combo standard for speedier charging connectors. These fast charging stations allow electric car owners to recharge auto batteries by up to 80% in just 20 minutes. Currently produced vehicles that can use the charging stations include the BMW i3 and the Chevrolet Spark. Tesla has taken things one step further by building their own charging stations. Several of the key charging stations are located along Germany’s autobahn. This makes it ideal for long-distance commuting.
Tesla wants to share intellectual properties
Furthermore, Tesla Motors Inc (NASDAQ:TSLA)’s charging system can be fitted with an adapter that allows cars to recharged with either their own system or with SAE chargers. Tesla also recently announced that the company would share intellectual property with other auto makers in hopes that it would speed up the development of electric cars. Elon Musk (chief executive officer of Tesla) claimed this includes every single one of Tesla’s patents and more in the future.
Not surprisingly, a few German car makers have been wanting to work with Tesla Motors Inc (NASDAQ:TSLA). Earlier this year, Daimler’s chief executive officer Dieter Zetsche reported German-based Mercedes-Benz wanted to deepen their partnership with the U.S.-based company.