Tesla Inc. said it plans to update its charging network to halve typical wait times as the Model 3 fleet grows larger and rivals like Porsche ready their own powerful infrastructure.
After doubling power at Tesla’s stations and vehicles preheating batteries ahead of arriving at a plug, charging times will drop to around 15 minutes, the company said on its blog late Wednesday. The rollout of the V3 Supercharging network will take until the end of the year and allow twice as many cars each day to charge.
The blog doesn't indicate how much Tesla plans to invest in the network upgrade. CEO Elon Musk already has signaled Tesla will lose money in the first quarter and has struggled for years to make a consistent profit.