DDR Grows Partnership with Tesla Motors Inc

DDR Grows Partnership with Tesla Motors Inc
Blomst / Pixabay

Tesla Motors Inc (NASDAQ:TSLA) inaugurated its first supercharger station in New Jersey. Notably, it’s the company’s 100th supercharger station worldwide. The charging station is located at Hamilton Marketplace in Hamilton, New Jersey. Tesla said that the station will be operational 24/7, and will have six stalls. Tesla owners can fully charge their vehicles in about 40 minutes, and the recharge at supercharger stations doesn’t cost a penny.

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Tesla may expand its partnership with DDR

The Hamilton Marketplace is owned by DDR Corp (NYSE:DDR). New Jersey is the third state where Tesla Motors Inc (NASDAQ:TSLA)’s supercharger station is located at a DDR shopping center, after Ohio and Virginia. DDR said in a statement that the two could expand their relationship to many more locations across the nation by year-end. The Hamilton Marketplace is an ideal location due to its proximity to many highways. The shopping center is situated along the Interstate 195 and U.S. 130.

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Tesla Motors Inc (NASDAQ:TSLA)’s supercharger stations are strategically located near amenities such as shopping centers, cafes and roadside diners. Though the supercharger station in Hamilton could become a frequent pit stop for Tesla owners, the electric vehicle maker is facing difficulties selling its cars directly to consumers in New Jersey. Therefore, New Jersey residents who want to buy a Tesla will have to look elsewhere.

Tesla’s stores in New Jersey operate as “galleries”

Last month, New Jersey’s Motor Vehicle Commission ruled that Tesla Motors Inc (NASDAQ:TSLA)’s direct-to-consumer sales violated a state law that requires automakers to sell through franchise dealers. The Elon Musk-led company has appealed the decision, arguing that direct sales are permitted. The company had received a short relief to the sales ban, which expired April 15. Tesla spokesman Patrick Jones said the company’s two showrooms in the state remain in operation. But these locations are now operating as “galleries” where employees aren’t allowed to give pricing details or conduct sales. 

Tesla Motors Inc (NASDAQ:TSLA) shares went down 1.87% to $204.04 at 10:09 AM EDT on Thursday.

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