Industry standards body SAE to adopt Tesla's charging connector system
DKart
An automotive industry body that sets and reviews engineering standards on Tuesday said it would support the electric vehicle (EV) charging connector system developed by Tesla (NASDAQ:TSLA), in another big win for the Elon Musk-led company.
SAE International, formerly known as the Society of Automotive Engineers, said it would standardize Tesla's (TSLA) North American Charging Standard (NACS) connector and will develop the new standard on an "expedited timeframe." 
According to its website, SAE is a global association of more than 128K engineers and related technical experts in the aerospace, automotive and commercial-vehicle industries.
The standardization "will ensure that any supplier or manufacturer will be able to use, manufacture, or deploy the NACS connector on electric vehicles and at charging stations across North America," SAE said in a statement.
SAE's support for NACS puts the system on a fast track to becoming an industry standard in the U.S. The SAE announcement comes days after a report that Texas would become the first state to mandate NACS. 
Tesla's (TSLA) standard has been picking up steam for weeks, since Ford (F) and General Motors (GM) said they would integrate the connector system into their EVs starting 2025.
Last week, Rivian Automotive (RIVN) also jumped onto the NACS bandwagon. Meanwhile, Volvo Cars (OTCPK:VLVCY) (OTCPK:VLVOF) earlier today became the first European carmaker to adopt the standard.
EV charging companies Wallbox (WBX), EVgo (EVGO) and ChargePoint (CHPT) have also said they would incorporate the NACS standard.
Tesla (TSLA) shares have been on a blistering run in 2023, having nearly doubled in value up to their last close. The stock also recently notched a 13-day win streak, the longest such run in its history. The runup has been mainly due to a broader technology rally fueled by enthusiasm around artificial intelligence, though the developments regarding NACS have also contributed.
TSLA was last up 2.5% to $247.13 in afternoon trading.
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