Power move: Volex, headed by Nat Rothschild (pictured), will supply connectors to Tesla’s US charging points
The industrial manufacturer headed by Nat Rothschild, the prominent financier, has been picked as Tesla’s electric car charging partner in the US.
Volex, which employs 8,000 people in 22 countries, will supply connectors to Tesla’s electric vehicle (EV) charging points as they are rolled out in the US.
Volex said it was ‘stocked and ready’ to immediately supply it. Analysts at Peel Hunt said: ‘This confirms Volex’s strong position in the global EV charging market.’
They added that Volex shares are ‘undervalued’, despite the fact that under Rothschild’s stewardship shares in Volex have jumped more than threefold.
Rothschild recently told the Mail that ministers must provide a ‘strong blueprint’ on how to roll out the EV charging infrastructure that Britain ‘craves’.
Shares in Volex fell 1.1 per cent, or 3.5p, to 310.5p on London’s junior AIM market.
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