Tesla Motors Inc (NASDAQ:TSLA) is fulfilling its promise to give the majority of the population of the United States access to its supercharger network. The company opened the first leg of its network today. The piece stretches from Mexico’s Tijuana to Canada’s Vancouver. According to the company, 99% of Californians are now within 200 miles of a Tesla Supercharger station.
The Supercharger network is one of the most ambitious parts of the Tesla Motors Inc (NASDAQ:TSLA) business plan. Tesla boss Elon Musk says that the network of charging stations will eventually allow Tesla Model S owners to drive from ocean to ocean using only the fastest charging technology.
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy Read More
Tesla West Coast Supercharger corridor
Today’s official opening of the West Coast Supercharger corridor was marked by a drive from San Diego to Vancouver by two Model S drivers. The Supercharger network is a key part of the Tesla Motors Inc (NASDAQ:TSLA) plan to have as many people as possible in an electric car in the next decade.
The Tesla Motors Inc (NASDAQ:TSLA) charging stations that dot the company’s Supercharger network allow users of the company’s electric car to charge half of their battery in around 20 minutes, and it allows them to do it for free. The firm currently has 31 stations in the United States. It promises Model S owners will be able to drive from coast to coast sometime this winter.
The Tesla Motors Inc (NASDAQ:TSLA) supercharger project is one of the most exciting things about the company. It allows users to make long trips in the electric car, and it allows them to do it for free. If Tesla Motors Inc (NASDAQ:TSLA) is able to complete its network from coast to coast by this winter, there’s little that could stop it reaching its intended 2015 milestone: reaching 98% of the population of the United States.
Tesla Supercharger value
Some analysts have said that the Supercharger network is the most valuable part of Tesla Motors Inc (NASDAQ:TSLA). It certainly makes the company unique among car manufacturers, and it allows the firm to compete with gasoline automobiles in a number of metrics. The opening of the Supercharger corridor has not done much for the company’s stock price, however.
Telsa shares lost just over 2% of their value by time of writing. The firm’s stock has lost more than 15% of its value in the last month’s trading. It appears that investors are more cautious on the company heading into its third quarter earnings report. Tesla Motors Inc (NASDAQ:TSLA) earnings for the third quarter are due on November 6.