Tesla Motors Inc (NASDAQ:TSLA) is still far from installing enough charging networks in China even though it has started with the delivery of Model S. Not satisfied with the fact, Guangdong-based businessman Zong Yi has launched a campaign to build first “electric vehicle charging road” in the country under which 16 cities will be covered from Beijing to Guangzhou. Guangdong has paid for every recharging station including the indirect 5,750-kilometer route, says a report from Market Watch.
Lack of infrastructure inspired the idea
It all began after Zong acquired Tesla Model S. Zong realized that there are no charging facilities outside Beijing and Shanghai, which will be a hurdle to drive back the Model S to his home in Guagnzhou. Initially, the businessman decided to carry a charger along and ask to use power outlets at the hotels, he lodged in on the way. However, an idea struck, and Zong decided to make a route, where all the electric vehicle drivers can charge their cars.
A Look At The Portfolio Of Billionaire Charlie Munger
Charlie Munger is one of the world's greatest investors. Over the past six decades, he's helped his business partner and friend, Warren Buffett, turn a struggling textile business called Berkshire Hathaway into one of America's largest firms. Q3 2020 hedge fund letters, conferences and more If you’re looking for value stocks, and
Zong explained his plan to Wu Bixuan, an executive in-charge of Tesla China operations. He was looking forward to buying 20 recharging facilities and set up on the route. Also, the businessman decided to publish the notices on popular websites like Sina and WeChat, asking the property owners to lend free space available. Upon getting the free space, Zong would install or donate the chargers and pin it on his online map of “China electric map.” It is upto the space owners to offer a service for free or charge some fee.
Smart thinking from Tesla fan
“If we install at hotels, we can handle everything on our own and avoid dealing with property management, power companies and the government,” Zong said. He stated that, owners sacrifice around 30 yuan ($5) for seven hours of charging, but if driver takes a room in the hotel or buys a meal then it can be a profitable model.
He added some more conditions like four-star hotel, free parking, locations that were easy to find, when the campaign was flooded with as many as 500 responses. Zong has selected different spots in 16 cities.
Zong has decided to install slow chargers and not the Tesla superchargers, which means that the Model S will take eight hours to get fully charged requiring the owner to stay overnight.