Is a new type of “gas station” being created for Tesla Motors Inc (NASDAQ:TSLA) in a bank drive through window?
Do bank branches and Tesla refueling stations mix?
The announcement today that Tesla Motors Inc (NASDAQ:TSLA) is opening Orange County, California’s first supercharger station might seem somewhat banial, until you understand where they are opening it: in a bank branch.
The Union Bank retail branch in San Juan Capistrano, approximately mid way between Los Angeles and San Diego, will now offer Tesla drivers a free place to “fill up” their vehicles with an electronic charge.
Why would a bank offer Tesla Motors Inc (NASDAQ:TSLA) drivers a free gas station alternative? “Building smart, mutually beneficial relationships are key to the way Union Bank operates, and we welcome the opportunity to stand with Tesla on the leading edge of such groundbreaking green technology.”
Smart indeed. Union Bank recognizes the value of Tesla Motors Inc (NASDAQ:TSLA) ’s upscale drivers and is hoping they will not only race from San Diego to Los Angeles using their free service, but they will utilize Union’s banking service while they service the car.
Supercharger stations allow for free and quick refueling
Tesla Superchargers allow Model S owners to travel for free between cities on select high trafficked highways in North America. The Supercharger is substantially more powerful than any other charging technology in use today, providing up to 120 kilowatts of power and replenishing half a charge in 20 minutes. Supercharger stations are strategically placed to allow owners to drive from station to station with minimal stops. What Union is hoping is that during their 20 minute experience is positive for both the bank and driver.
“Superchargers are an integral part of Tesla Motors Inc (NASDAQ:TSLA)’s vision to speed the adoption of sustainable transportation,” Jeremy Snyder, Tesla’s General Manager for the South West Region, said in a statement. “Union Bank’s San Juan Capistrano branch provides an ideal location to serve Tesla owners traveling between Los Angeles and San Diego. By the time customers do their banking, grab lunch or enjoy a cup of coffee, their cars are charged and ready to go.”
What’s next for Tesla? Perhaps they need to partner with a retail wealth management firm who might require the well healed Tesla Motors Inc (NASDAQ:TSLA) investor to step inside their office for 20 minutes and listen to their latest pitch regarding asset diversification? Don’t count it out.