Tesla Motors Inc (NASDAQ:TSLA) is now making its presence felt in Macau – also known as the “Las Vegas of Asia.” The region will soon get a Tesla Supercharger at one of its most famous resort of the island, known as Studio City, according to The Country Caller. Tesla’s 4-stall charging facility will be accompanied by a Tesla’s nearby Service Center, which will be a “precursor to a Tesla storefront” arriving in 2017, notes a report from Teslarati.
Supercharger at Macau soon
Tesla’s Hong Kong regional director for Macau and Taiwan, Isabel Fan announced the new Supercharger in a press release. According to Fan, “From sales, service, to charging, Tesla supports our owners for a smooth transition to electric driving with zero compromise on their lifestyle. The Studio City Supercharger station will provide a convenient public charging solution for Tesla drivers in Macau.”
Hedge Funds: Small Firms Profit As Big Names Close In 2020
At the beginning of July, Lansdowne Partners, one of Europe's oldest and best-known hedge fund managers, announced that it was closing its flagship hedge fund after a run of poor performance. The closure is the latest in a string of high-profile hedge funds that have decided to shut up shop in recent years. Billionaire investor Read More
Also, the US firm had set up a pop-up store next to the Studio City, to help guests know more about the Model S sedan. The merger clearly indicates that Studio City and Tesla aren’t different on sharing the same vision of being the pioneer in bringing innovation to the industry, said JD Clayton – Studio City property President.
Thanks to Ganesh Srivats – former Burberry executive, Tesla is pursuing sales location at the trendiest sales and retail areas. Also, the EV firm partnered with Nordstrom recently, inaugurating a pop-up store inside the retailer’s store at the Grove – the hottest shopping spot in Los Angeles, the report notes.
Tesla – a threat to insurance industry
In separate news, Tesla is planning to enter the car insurance business. To start, it will offer new programs in Australia and Hong Kong, notes Electrek. The program named InsureMy Tesla, highlights custom insurance plans for Tesla’s vehicles underwritten by big insures. In Hong Kong, the US firm is partnering with AXA General Insurance while in Australia, the company has partnered QBE Insurance, the report notes.
Tesla’s custom plans include new vehicle replacement of the same model, coverage for damage incurred to the Tesla home wall contractor, easy to understand pricing for improving total cost of ownership, choice of authorized Tesla repair and any driver policy, notes Electrek.
Tesla entering the insurance arena could be seen as a bad news of the insurance industry as it means more competition. Another not so good news for the insurance industry comes from NHTSA, according to whom the self-driving cars will fully reduce 90% of the car accidents caused by human error.
At 10.35 am EDT, Tesla shares were up 0.03% at $211.43. Year to date, the stock is down almost 11% while in the last on-year, it is down almost 15%.