Print 41 comment(s) - last by mars2k.. on Mar 10 at 8:03 AM

Tesla wants potential EV customers to stop worrying about electric range when it comes to the Model S

Tesla Motors recently made a coast-to-coast road trip possible in the U.S. with its all-electric Model S sedan, and the automaker wants travelers in Europe to have the same experience.

According to Tesla, there are big plans for an expansion of Supercharger stations throughout Europe in 2014. These stations rapidly charge Tesla's Model S for free, where a full charge takes around 75 minutes. New stores and service centers will be making their way to select European countries as well.

Currently, Tesla has 14 Superchargers throughout Norway, Germany, Switzerland, and the Netherlands. But the automaker is looking to place more within those countries and expand to the UK, France, Spain, Italy, Austria, Denmark, and Sweden by the end of the year. It's not clear how many will be placed total.

Tesla will also open 30 new service centers and stores around Europe. Service centers will be placed in Sweden, Italy, and France for the first time, and stores will open in Birmingham and Manchester in the UK, Lyon and Bordeaux in France, Gothenburg in Sweden, and many more. 

Tesla wants potential EV customers to stop worrying about electric range when it comes to getting from point A to point B, and placing more Superchargers between major cities and frequented destinations is the way to do it. 

The automaker recently placed more Supercharger stations between Los Angeles and New York City in the U.S. as a way of relieving range anxiety for its American users. 

Tesla is making its way into China as well, where CEO Elon Musk recently said that the country might match the U.S. in volume "as early as next year" regarding the Model S. 

Source: Tesla Motors

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RE: Nice.
By cruisin3style on 3/7/2014 12:12:05 AM , Rating: 2
didn't they repay the loan?

maybe the government should intervene and stop companies from doing what they need to do in other countries to expand their presence. I'm sure that fits right in with your political views.

RE: Nice.
By sorry dog on 3/7/2014 11:05:40 AM , Rating: 1
Repaid maybe... Paid off, I don't think so.

It just means that they were able to convince somebody else to loan them the money (or proceeds for equity sales) to pay the DOE loan.

RE: Nice.
By Rukkian on 3/7/2014 12:15:05 PM , Rating: 3
So now you have a problem with stockholders paying money to pay off the government? That is where the money came from. Why does it even matter where the money came from (from a taxpayer perspective) as long as the loan got paid off with non-government funds?

RE: Nice.
By sorry dog on 3/7/2014 12:49:05 PM , Rating: 2
Never meant to imply I had a problem which them paying off the loan, or even that the loan was made in the first place.

I just want to point out that the fact that this loan was repaid has been noted before usually in the context to show that the Telsa company has been successful, and in that context someone could easily read that paying off the DOE loan meant that Tesla has been financially successful enough to that their earnings allowed them to pay down this debt. Their balance sheet seems to tell a different story with 1.1 billion in negative retained earnings which seems to suggest that their ability to pay off this debt had more to due with equity investment rather than the 878 million in net income the company lost in the last 4 years.

In short, I guess they are better off than Solyndra or Fisker in being able to find alternative financing but that's still pretty far from solid financial footing. In fact, the following editorial suggests a more cynical reason (the second part is behind a paywall but you get the idea from the first few paragraphs)

RE: Nice.
By weaponzero on 3/7/2014 1:30:41 PM , Rating: 2
Tesla is financially successful, they are a growth company that reinvests all their profit into rapid growth(like amazon). So their finances are fairly solid. but yes they paid off the loan with stock options.

Also, I would not use seeking alpha as a credible source. Anyone can publish an article on SA. The author gets paid 1 cent for every view they get so the more controversial the topic the more they make. Especially an article from Peterson (The guy has been writing negative Tesla articles for years and has been wrong every time. He holds major investments in Lead Acid batteries and is not too thrilled in Lithium Ion taking over).

RE: Nice.
By sorry dog on 3/7/2014 2:38:19 PM , Rating: 2
You have to have profits to be able to re-invest them, but if you think losing 900 million in the last four years is financially successful then I have a few shares in bank called Mt.Gox to sell you.

RE: Nice.
By weaponzero on 3/7/2014 4:45:38 PM , Rating: 2
Right, and Tesla has profit. Their gross profit margins are at 25% and growing. They then take that money an reinvest it into the business, hence the low net profit.

Reporting net profit on a growing business is like throwing money away. (Because then you pay corporate taxes on it, if you reinvest the money automatically, it is deductible)

And that is not to say Tesla did not lose money prior, but that was part of investment costs. And I am pretty sure anyone who invested in those years to fund those costs are quite happy with their investments today.

RE: Nice.
By sorry dog on 3/7/2014 5:43:43 PM , Rating: 2
Their gross margin can be 90%, but if EBITDA is negative you still lost money.

RE: Nice.
By weaponzero on 3/7/2014 6:09:54 PM , Rating: 2
Again, EBITDA does not account for investment spending. The obsession with useless metric that is net income is one of the reasons why our economy is doing so bad. Because it incentivizes not investing the money and instead holding it to report net profits.

The only use for net income is building up cash on hand. Otherwise it is useless for the company.

Amazon is a perfect example of how a company can rapidly grow and sustainable so without reporting any significant net profit.

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