The stock price of Tesla Motors Inc [linkme to=”TSLA”] has fallen by over 2.08% today till the late morning trading session. Since its open this week, the stock has fallen by over 6.34%. The stock closed at $343.06 on Wednesday.
The California based company is an American automotive and energy storage company that designs, manufactures, and sells electric cars, electric vehicle power train components, and battery products. During the first quarter of 2013, Tesla posted profits for the first time in its history. Tesla first gained widespread attention following their production of the Tesla Roadster, the first fully electric sports car. The company’s second vehicle is the Model S, a fully electric luxury sedan, which was followed by the Model X, a crossover. Its next vehicle is the Model 3.
Global Model S sales passed the 100,000 unit milestone in December 2015, three and a half years after its introduction. The Model S was the world’s best selling plug-in electric vehicle in 2015. As of June 2016, the Model S ranks as the world’s second best selling plug-in car in history after the Nissan Leaf. As of 30 June 2016, Tesla Motors has sold almost 140,000 electric cars worldwide since delivery of its first Tesla Roadster in 2008.
Over the last year, Tesla has changed its Supercharger network strategy to significantly increase the number of charge points per station. Now they are bringing those high numbers of charge points to the mothership by expanding the Fremont factory Supercharger station – making it one of the largest stations in America. Tesla’s three world’s biggest Supercharger stations each with 50 stalls are all located in China. In America, Tesla’s biggest stations have 40 stalls. The company has two of them – both located in California and one of them features a whole new concept with a lounge. Now we learn that Tesla is planning to also expand its Fremont factory Supercharger station with 40 stalls.[adv_smv1 link=”8″]
Tesla gives the address of the factory, where it already has a 12-stall Supercharger station, in the permit application, but it’s not clear if the new 40 stalls will expand on those 12 Superchargers, making it the biggest station in the world, or replace the current 12 stalls, making it the biggest station in North America equal to the two other previously mentioned stations. The automaker has another big Supercharger station under construction just down the road from the factory, but it has been under construction for almost a year without ever being completed.
Tesla has several other Supercharger stations under construction in the Bay Area to support its growing fleet with the introduction of the Model 3. Last year, the company grew its Supercharger network to over 8,250 Superchargers at 1,120 locations around the world. It fell short of its goal to have 10,000 Superchargers in operation, but it was still a record year for deployment and it started 2018 strong with already about 50 new stations – many of them with high numbers of stalls per station.
Our analysts have given a “BUY” rating to Tesla Motors’ stock. Today’s fall indicates a trend of correction in its price which has been persisting for the past week, however, the stock is expected to do well in the near future.