Tesla Motors Inc (NASDAQ:TSLA) To Launch Its First San Francisco Shop In A Week’s Time

Tesla Motors Inc (NASDAQ:TSLA) To Launch Its First San Francisco Shop In A Week’s Time

Tesla Motors Inc (NASDAQ:TSLA) is gearing up for the launch of its new shop in San Francisco. The new store will be located at the intersection of O’Farrell Street and Van Ness Avenue.

The shop will reportedly be the electric vehicle maker’s largest shop so far with a real estate of 65,000 square feet, and be located where the Lamborghini and Bentley dealerships used to be. Tesla intends to hold the launch event for the shop on August 12 and it will be a public event. The new Tesla store in San Francisco will stock the Model X and the Model S. it will also sell the Model 3 once the car is launched.

Tesla has also revealed that owners of its electric cars can take their vehicles to the same shop for service. Tesla has adopted a unique strategy which involves setting up its own shops rather than selling its vehicles through dealers. The firm argues that it does not use conventional technology and users are therefore need to be educated on how the vehicles function. The company has been barred from launching its own shops in various states that still maintain strict rules that prevent vehicle manufacturers from launching their own dealerships.

It is also expected that the company will also sell its home batteries and solar panels if the acquisition of SolarCity Corp (NASDAQ:SCTY) goes through. The deal is currently awaiting regulatory approval as well as approval from the stakeholders of both firms. Tesla also has plans to launch more stores in other regions. The firm revealed its plan to launch at least one retail store every four days. The company revealed its plans during its second quarter earnings report that was held on Wednesday.

Tesla CEO Elon Musk has a lot going on other than the expansion of its stores. The firm is still building its gigafactory in Reno, Nevada which is currently 14% complete. Tesla is also working on the Model 3 which is expected to be ready for the market by the end of 2017.