Long term prospects in China could finally be looking up for Tesla Motors Inc (NASDAQ: TSLA) in line with CEO, Elon Musk, sentiments, who has from time to time reiterated the importance of the marketplace. A 25% increase in Model S registrations in March is just an indication of how the company is consistently cleaning up its inventory as demand continues to soar, according to research firm JL Warren Capital.
Model S is also slowly gaining traction in Australia, another important marketplace for the giant electric company. Need for speed, reliability and comfort has made Tesla’s Model S forge in front, in terms of demand at the expense of other EVs offered by the likes of BMW and Nissan.
Tesla lacks Australian chargers
However, challenges related to charging could plummet Tesla to further problems as many of its Australian faithful’s are already complaining of a lack of enough charging stations, as well as the lack of 3 phase HPWC.
Tesla Motors Inc (NASDAQ:TSLA)’s biggest hurdle on the sale of more electric cars abroad has always had to do with range anxiety issue, which has made many people remain skeptical about owning electric cars. The automaker has slowly been expanding its supercharging network in China with the same efforts still needed in Australia.
The total number of registered cars in China stood at 326 in March, up from 260 in February according to JL Warren Capital. Tesla Motors is also importing more cars in China than initially thought, the number having soared to 208 in March from 63 in February and 10 in January. The findings should go well with the Street, which has remained skeptical about the company’s prospects for some time at the back of struggle in key markets.
Scaling Tesla Motors
Problems related to charging poses the biggest hurdle to Tesla being able to scale its business in some key emerging markets. Tesla Motors has just started to deliver its universal Mobile connector in Australia but with one adapter for 10A, which is only reliable when one has a lot of time to charge at 2.4KW.
Expanding the supercharging network should allow Tesla to achieve its worldwide sales target of 55,000 cars this year, which is a 74% increase from last year. China remains a key market for Tesla Motors Inc (NASDAQ:TSLA) having already delivered a total of 5,042 EVs, since April of last year.