Tesla Motors Inc (TSLA) is Building Giant Supercharging Stations

According to emerging reports, Tesla Motors Inc, is set to build 2 of its largest supercharging stations for its electric vehicles. Each station will hold around 20 stalls. This compares to Tesla’s current average, of around 6 stalls per each station.

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One of the new giant supercharging stations will be based in Fremont, California, not far from Tesla’s factory and HQ. The other one will be based in Europe, in Norway (in Nebbenes.) The manager of the Norway facility has told a newspaper that they plan for the new station to be operational by August-September 2016.
Tesla Motors IncAn article recently published on Electrek provides more details on the why Tesla Motors Inc is building more, and larger supercharging stations. It reads “One of the biggest concerns for some Tesla Model 3 reservations holders, especially if they have been following the automaker for a while, is how Tesla will be able to scale its Supercharger network with the anticipated massive increase in the number of vehicles in its fleet over the next few years. Some stations located on popular routes are already pretty busy and it’s not always rare to have to wait in lines. But it’s encouraging to see that Tesla is about to open its two biggest Supercharger stations yet…”

Tesla Motors Inc’s new electric vehicle, the Model 3, which was unveiled on the 31/03/2016, represented a change in direction for the car maker. CEO, Elon Musk, described it as “the biggest product launch ever.” Since the Model 3 will be mass produced, Tesla needs to expand its charging network to keep customers “on the go” and happy.

As the NASDAQ closed on the 29/07/2016, Tesla Motors Inc’s stock price was up by 1.81%, trading at $234.79 per share. The stock markets will be closed for the weekend, and Tesla’s value, by market cap, is currently $34.57 billion.

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