Tesla Motors Inc (TSLA) Supercharger Network Now Covers L.A.-New York

Tesla Motors Inc (TSLA) Supercharger Network Now Covers L.A.-New York
Blomst / Pixabay

The Tesla Motors Inc (NASDAQ:TSLA) fast-charger network now covers one of the most epic and iconic routes in the United States: Los Angeles to New York. CEO Elon Musk stated that the company has expanded the network of chargers in the United States to facilitate the owners of battery-powered Model S sedans to drive their cars from coast to coast for the first time.

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“Tesla Supercharger network now energized from New York to LA, both coast + Texas!” Musk said in a Twitter post yesterday. “Approx 80% of US population covered.”

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Tesla expands supercharger network

Last year, Musk said that superchargers will be located in various United States and Canadian cities in to make the ride comfortable while driving long distances on electricity free of cost. Tesla has already built more than 70 stations in North America as per the detail on Tesla’s website.

Tesla Motors Inc (NASDAQ:TSLA) is one of the most dominating electric carmakers, but needs an expanded network of charger stations to resolve the issue of limited range of driving, and long charge times of batteries. On one charge, the driver can go up to 265 mile with a Model S battery, but it takes as much as 9 hours to fully charge with a standard outlet.

According to Musk, the fastest available superchargers are located in the main highway interchanges on properties near to facilities like restaurants, cafes or shopping malls so that while the car gets charged the driver could get to eat something or shop for stuff.

Tesla drivers to set speed records

Tesla Motors Inc (NASDAQ:TSLA) installed superchargers are only compatible with Model S, as of now. The Model S can drive 170 miles of range after getting charged for 30 minutes. The entry version of Model S, which is compatible with Superchargers, costs around $73,070, according to Tesla website.

According to Musk, there will be two teams of Tesla drivers, who will set U.S. cross country electric vehicle speed records with the help of chargers. They will start from Los Angeles and will arrive in New York on February 2.

Elon Musk is also very confident about the performance of Tesla in China, where he expects Model S demand to reach the level of the United States by the year 2015. According to Musk, Tesla may build a plant in China to support the growing demand of the car in the region.

Tesla Motors Inc (NASDAQ:TSLA) stock, which has more than quadrupled its value in 2013, declined 3.8% to $174.60 at the close of January 24 in New York.

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Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at amanjain@valuewalk.com
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