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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 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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