Tesla Motors Inc To Sponsor Pedro Blanco Race 2014

Tesla stockBlomst / Pixabay

Tesla Motors Inc (NASDAQ:TSLA) is now connected to the Royal Hong Kong Yacht Club’s Pedro Blanco Race as a Presenting Sponsor. The race, which is scheduled for March 22-23, 2014, serves as a good preparation for the Rolex China Sea Race on April 16, 2014, in Hong Kong. The Pedro Blanco Race, which is a Category 3 offshore race, will take place at Pedro Blanco Rock, which is situated east of Hong Kong.

Green philosophy a connecting force

Joachim Isler, Commodore of the Royal Hong Kong Yacht Club, called it “a challenging, but fun race, being a ‘short’ 100nm overnight race ideally suited to train and trial crew, equipment and yachts right before the crossing of the South China Sea in April.”

Tesla Motors Inc (NASDAQ:TSLA) was founded in 2003 by a group of Silicon Valley engineers who wanted to prove that electric vehicles “could be awesome,” said  Isler, who added that the batteries from the EV and powertrain maker help to lower dependence on petroleum-based transportation and also lower the cost of producing electric vehicles. Tesla plans to sell more cars by collaborating with other automakers.

Torrey Dorsey, Royal Hong Kong Yacht Club’s Corporate & International Partnerships Manager, said they and Tesla share the same green philosophy, as sailing is one of the “most sustainable and renewable” mode of traveling, and Tesla Motors Inc (NASDAQ:TSLA) as a brand is at the forefront of green technology performance.

Tesla direct sales model under threat

Despite the rising popularity of Tesla Motors Inc (NASDAQ:TSLA), more and more states are passing laws against the automaker; banning them from directly selling their cars to consumers. The laws are primarily directed to suppress Tesla, whose CEO Elon Musk is challenging these laws at every step and in every possible way.

Last week, New Jersey became the fifth state to ban direct sales, to which the CEO replied in a statement, on Friday, “The rationale given … is that it ensures ‘consumer protection,” and added “unless they are referring to the Mafia version of protection, this is obviously untrue.” New York is expected to be the next state to come out with similar laws.

The billionaire CEO said that he is evaluating “judicial” options to come out with a solution.

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About the Author

Aman Jain
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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