Tesla Motors Inc (TSLA) To Accelerate Expansion in U.K. Next Year

Tesla Motors Inc (TSLA) To Accelerate Expansion in U.K. Next Year
<a href="https://pixabay.com/users/Blomst/">Blomst</a> / Pixabay

Tesla Motors Inc (NASDAQ:TSLA), the electric car manufacturer in the United States headed by billionaire entrepreneur Elon Musk is planning to accelerate its expansion in the United Kingdom by the end of next year, according to a report from the Financial Times.

Tesla Motors Inc (TSLA) To Accelerate Expansion in U.K. Next Year

Elson Musk to build supercharger facility in U.K.

The report indicated that Tesla Motors Inc (NASDAQ:TSLA) is  aiming to build a complete network of its superchargers across the U.K. by the end of 2014.

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Musk said, “We’re going to establish a supercharger network throughout the UK. So you’ll be able to travel anywhere in the UK, anywhere at all, using our supercharger network. I am hopeful, and we will certainly aspire to this, to have the whole of the UK done by the end of next year. So it’s quite rapid.”

According to Musk, Tesla Motors Inc (NASDAQ:TSLA) will build its first supercharger facility in the U.K. during the first quarter of 2014. The electric car manufacturer recognized that the primary factor preventing consumers from purchasing an electric car is the lack of charging facilities. Electric cars generally have a driving range of less than 150 miles.

Musk did not provide further details as to how many supercharger facilities will be built and  total the cost of the project. However, he emphasized that Tesla Motors Inc (NASDAQ:TSLA) is making a huge investment: “We’re making a big investment and I think it is going to work out fairly well,” said the billionaire entrepreneur.

Tesla Model S for sale in U.K.

Tesla Motors Inc (NASDAQ:TSLA) is selling the entry-level version of the Model S vehicle for $62,500 in the United States. The company will start selling the vehicle for £55,000 in UK in March.  In 2011, the British government implemented the Plug-In-Car Grant, which provides a £5,000 incentive to those who purchase electric vehicles.

Currently, the electric car manufacturer has 31 supercharger stations in North America, and its target is to build charging facilities that would cover 98% of the U.S. population and parts of Canada by 2015. Tesla Motors Inc (NASDAQ:TSLA) has 6 stations in Europe.

Bolloré Submits Separate Bid 

On the other hand, Vincent Bolloré, chairman of the French industrial group, said that Blue Solutions SAS (EPA:BLUE), the electric battery subsidiary of Bollore SA (EPA:BOL) (OTCMKTS:BOIVF) submitted its bid to build a series of car chargers in London. His target is to bring his successful Autolib electric car-hiring scheme from Paris to London.

According to him, if his bid succeeds, consumers in London will be able to rent electric cars by mid-2014. It will rent out cars the same way as the Barclays Cycle Hire strategy.

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