Tesla Motors Inc Plans To Build Charging Station With Sinopec

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Tesla Motors Inc Plans To Build Charging Station With Sinopec
Blomst / Pixabay

Tesla Motors Inc (NASDAQ:TSLA) Chief executive Elon Musk is expected to land in China this month, to discuss with China Petroleum & Chemical Corp (or Sinopec) setting up charging units in Sinopec’s nationwide service-station network, according to a Chinese media report Monday, April 14.

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Sinopec to build the stations

Tesla Motors Inc (NASDAQ:TSLA) is aggressively expanding in China, and in service of that goal has announced to set up a network of charging stations to offer Tesla owners charging for free and being able to travel long distances.

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Charging facilities would be made by China’s largest oil refiner in its own gas stations situated in Beijing followed by set ups in the port city of Tianjin and Hebei province as stated by 163.com, an online news portal.

The electronic vehicle manufacturer is expected to open service stations in Beijing, Shanghai, Hangzhou, Guangzhou, Shenzhen and Chengdu by the end of this year. Tesla is also providing training to third party electricians so that they can establish charging stations.

Tesla has big plans for China

Elon Musk’s brain child is the a pioneer in more than more way, and is now heading towards China aggressively.

China is bullish on the use of clean-energy cars to combat its heavy air pollution, although the reach of these green fuel cars has been slow due to the deficiency of a charging network infrastructure. Other electric car manufacturers all over the globe are tracking the success and strategy of Tesla in China. China has still not accomplished its target of 5 million alternative energy-powered vehicles by 2020 due to lack of charging stations and high cost.

Tesla Motors Inc (NASDAQ:TSLA) Model S is getting very popular in China owing to its competitive price and marketing by social media. Bloomberg news reported that Elon Musk will personally visit China this month to inaugurate the sales of the electronic vehicle in China.

Tesla Motors Inc (NASDAQ:TSLA) is expected to achieve the same volume of sales in China as it did in the United States, which makes the Asian country an important market for the company, according to Elon Musk.

Apart from China, Tesla is also targeting other regions. Simon Sproule, Tesla’s vice president of marketing and communications, told Bloomberg that the company is working on making the right-hand version of the Model S for sales in markets such as the U.K. and Hong Kong.

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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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3 COMMENTS

  1. Elon Musk has paid more to his Shills and Tesla Fanboy bloggers than he is paying his researchers to disprove laws of physics. Eventually Tesla owners will end up running diesel generators in their trunks.

  2. @Homer You have a very interesting definition of the word “failed.” From USAToday:

    On Sunday, a team from Tesla (ticker:TSLA) driving two Model S cars crossed the finish line in a cross-country drive. The two fully electric vehicles made the trip only charging at Tesla’s Supercharger stations. More importantly, however, Tesla recorded a record for the lowest charge time for an electric vehicle traveling across the country. But just how convenient is the route?

    Killing range anxiety

    One potential threat to demand for fully electric vehicles is range anxiety, or the concern that there are not sufficient charging stations for long-distance travel in an electric vehicle. While making long-distance travel viable will certainly help minimize range anxiety, making it convenient would be an even better antidote.

    For instance, the bare minimum number of charging stations on a route may enable long-distance travel, but it will likely take more than the bare minimum for the route to feel convenient. Even more, charging can be inconveniently slow, or it can be expedient — obviously, the faster the charge, the better.

    Taking a look at Tesla’s recently completed cross-country route may give investors a glimpse of just how convenient Tesla plans to make its Supercharger network. To assess the convenience, let’s take a look at the two major factors that go into charging convenience: charging speed and charging station density.

    Charging: It’s no secret Tesla’s Supercharger stations are better than the typical charging infrastructure. Roughly 16 times faster than the typical public charging station, a Supercharger can give a Model S a 50% charge in 20 minutes or an 80% charge in 40 minutes. The Supercharger network was recently named “Technology of the Year” by AOL Auto.

    Thanks to fast charging, Tesla’s Cross Country Rally team managed to complete the drive in just 76 and a half hours last weekend, despite “road closures, detours and traffic delays” as a result of a Colorado blizzard that cost the team eight hours. Other challenges included blinding sand storms, freezing temperatures, and heavy rain.

    Charging station density: But how dense is the cross-country route with charging stations? Is it set up to handle both the 265-mile range and the 208-mile range Model S?

    Currently, the Supercharger stations are approximately 120 miles apart, spaced for both the 60-kWh and 85-kWh vehicles. Tesla says it is adding additional stations along the route for greater density.

    Solid progress

    Currently, 80% of the U.S. population is now within 200 miles (just enough for a 60-kWh Model S) of a Supercharger station. By the end of the year, Tesla plans to have 95%-98% of the U.S. within range of a Supercharger.

    While it’s unclear just how convenient Tesla plans to make coverage over the long haul, the company’s ambitious short-term achievements and its current goals suggest that Tesla doesn’t plan to slack on the network. This is good news for Tesla investors; a convenient charging network is a key factor in the customer experience of driving a Tesla vehicle.

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