Tesla Motors Inc To Expand Model S Charging Network In Europe

Tesla Motors Inc To Expand Model S Charging Network In Europe
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Tesla Motors Inc (NASDAQ:TSLA) is planning to increase the number of Supercharger stations in Europe to allow the owners of its Model S electric vehicle to drive across the region by the end of this year.

Tesla opens three charging stations in Germany

Today the electric car manufacturer opened three charging stations along the highways of Germany—Europe’s biggest economy–to enable Model S owners to drive their cars to Austria and Switzerland. Tesla Motors Inc (NASDAQ:TSLA) currently has 36 stores (from Sweden to Italy) and 23 charging in Europe.  Adding more charging stations in the region demonstrates that the European market is important to the company.

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Tesla Motors Inc (NASDAQ:TSLA) also plans to open more than 30 new stores and service centers in Europe as the company anticipates strong demand for its Model S electric vehicle, which costs around $70,000. The expansion is part of the electric car manufacturer’s initiative for a global roll-out, and it is anticipating a 55% increase in deliveries this year.

Tesla moves quickly to build the gigafactory

Tesla Motors Inc (NASDAQ:TSLA) is currently preparing for the construction of its $5 billion gigafactory to be able to expand its market share, speed up production and produce cheaper electric cars.  Last month, Panasonic Corporation (ADR) (OTCMKTS:PCRFY) (TYO:6752) confirmed its intention to invest in the gigafactory and to become Tesla’s sole manufacturing partner of batteries for the project.

Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk said the company is moving quickly to ensure that the gigafactory is ready in time for the mass production of the Gen III electric car. According to him, it would be a terrible outcome for the company if it does not have enough batteries to put in the car, which means no missteps allowed.

Meanwhile, Bayerische Motoren Werke AG (ETR:BMW), the leading luxury-car manufacturer, was prompted to improve its environmental reputation, as Tesla Motors Inc (NASDAQ:TSLA) has emerged as a sustainable alternative.  Earlier this year, BMW started shipping its plug-in i8 sports car with a $135,700 price tag. The BMW plug-in i8 sports car has the ability to accelerate faster than the Porsche 911.

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