It has been reported that the California based electric vehicles manufacturer, Tesla Motors Inc , is expanding its charging station network. According to an article recently published on The Post Star, Tesla will be installing a few new charging stations in Aviation Mall. Aviation Mall opened in 1975, & is based in Queensbury, New York.
The article gave further details, reading “Mall General Manager Danielle Kiendzior said work going on at the edge of the mall’s northwest parking lot, near Friendly’s restaurant, is being done by a contractor working for Tesla. She said “four or five” Tesla charging stations are being installed, adding Tesla approached the mall about the new stations and did not share any details about how many Tesla owners reside in the area.”
Tesla Motors Inc (TSLA)’s New Model 3
Tesla Motors Inc has been operating for a long time, gaining a reputation of producing high quality EVs. They produce & sell some high performance electric cars, with a 0 – 60 MPH time under 3 seconds. The Model 3 was unveiled early this year, on the 31/03/2016.
The car’s selling price starts at just $35,000, & unlike traditional Tesla vehicles, the Model 3 is aimed at the mass market. In the following months (after unveiling), nearly 400,000 potential customers had paid a $1,000 reservation fee. CEO, Elon Musk, described it as “the biggest product launch ever.” The Model 3 is a crucial vehicle for the firm, & it could play a part in helping Tesla reach its desired $700 billion market cap.
More Charging Stations Needed for Tesla Motors Inc’s EVs
Initial deliveries of Tesla’s Model 3 are planned for late 2017. Over the coming years, there will be a huge increase in the number of Tesla EVs on the road, particularly in the USA. Therefore, it is intuitive that Tesla Motors Inc it building & opening more charging stations. The number of EV power stations lags far behind the number of petrol stations.
As of 10:10 AM EST (11/07/2016), a share in Tesla Motors Inc was up by 3.80%, trading at $225.01 per share.