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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 sorry dog on 3/7/2014 1:39:30 PM , Rating: 2
I got curious and found another article that goes into further detail...

He explained in his Seeking Alpha article that the Leverage Ratio terms prohibited Tesla’s consolidated debt from exceeding 6.5 times Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the 4th quarter of 2012, and 4.5 times EBITDA for each quarter in 2013. Because the company could not meet those standards, DOE lend-o-crats awarded a waiver in Feb. 2012 that delayed the effective dates of those ratios, but also required Tesla to set aside its loan payments ahead of time in a segregated account. A second waiver that delayed the Leverage Ratio requirement was granted on March 1, 2013, but the requirements to accelerate repayment of its loan became even more onerous as a result. “Both waivers were presented to the market as triumphs of financial engineering,” Petersen wrote, “but they were basically an up-market equivalent of a credit card issuer increasing minimum payments for a troubled cardholder.” Because, according to Petersen’s analysis, Tesla had no chance of raising 2013 earnings (EBITDA) high enough (an estimated $220 million, which Tesla would fall far short of) to cover the Leverage Ratio requirements for the year, the company would need to either renegotiate or repay the loan by the end of the year. Those facts were not disclosed in its SEC filings, nor was Musk forthcoming about the situation on a May 7 1st quarter conference call, after he was asked by a participant about the need to raise more capital. “We don’t have any plans right now to raise funding,” Musk responded. “Potentially we expect to be – we were positive cash flow in Q1 and we expect to be there relatively sort of neutral on cash flow in Q2. But if it was possible, we could be optimistic about raising a round, but we have spent no time on that at all.” But only eight days later Tesla announced a $1 billion public offering backed by heavy hitters Goldman Sachs, JP Morgan and Morgan Stanley, which enabled the payback of the $465 million DOE loan and “shore(d) up a dismally feeble balance sheet that had $124.7 million of equity and a $14.2 million working capital deficit on December 31, 2012,” Petersen wrote.

So, it appears that at best Musk in withholding information and at worst possibly committing investment fraud.

According to Yahoo finance TSLA market cap is 30.55 billion while Ford's market cap is 61.54. Ford's operating income for 2013 is 5.4 billion. Telsa's is negative 61 million.

Anybody else see a disconnect? I'd short TSLA stock right now, but I bet it's hard to find brokers who can borrow the shares...not to mention by its very nature, it can be hard to predict when financial lunacy will come back to reality.

"We shipped it on Saturday. Then on Sunday, we rested." -- Steve Jobs on the iPad launch

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