Tesla Motors Inc (NASDAQ:TSLA) has announced that it is now taking orders for the Tesla Model S in China, the world’s second largest economy. The company made the announcement this afternoon on the Chinese micro-blogging site Weibo, mirroring the style of the many announcements it makes in the United States over Twitter.
According to today’s news, initially reported by CNN, the Weibo post read, “As of now, Tesla Model S reservations are being accepted.” The move into China is a small one in financial terms for the company right now, but psychologically it’s a massive change. Even if nearly all of its concentration is still on the U.S. market, Tesla Motors Inc (NASDAQ:TSLA) is keeping both eyes firmly on the future of the company.
In his book, The Dhandho Investor: The Low–Risk Value Method to High Returns, Mohnish Pabrai coined an investment approach known as "Heads I win; Tails I don't lose much." Q3 2021 hedge fund letters, conferences and more The principle behind this approach was relatively simple. Pabrai explained that he was only looking for securities with Read More
Tesla Motors Inc (NASDAQ:TSLA) just recently announced that it delivered its first European electric car to an enthusiast in Norway. Frederic Hauge was the first European to have a Tesla delivered. The electric car lover was the first person to import an electric car into the country back in 1989.
The company is looking to expand its operations in Europe. It has already opened an assembly line in the Netherlands where it makes Tesla Model S cars for the European market. The factory imports the parts from California, however. It is unclear what the firm’s plan for international manufacturing are, but it seems that the company is willing and able to operate plants overseas.
The firm has hit a couple of speed bumps along the way. News on Monday revealed that the name Tesla Motors Inc (NASDAQ:TSLA) was already taken in the Chinese market, necessitating the firm taking the name Tousule in that country.
Tesla hits a new high
On today’s market, shares in Tesla Motors Inc (NASDAQ:TSLA) hit a new high of $157.48, comfortably breaking the $150 barrier. Shares rose by more than 6% in trading on Thursday. In the last month stock in the company has risen by more than 28%. Tesla Motors has been a world beater in 2013, and today’s rise makes it worth more than $19 billion.
The huge growth in the firm’s value puts massive pressure on it to perform but fans of the company are sure that CEO Elon Musk and the rest of the company’s management has what it takes to turn Tesla Motors Inc (NASDAQ:TSLA) into an international force in the auto industry. The company’s first reservations in China are an important step in that direction.