China is a market that many companies are interested in breaking into. For example, Apple Inc. (NASDAQ:AAPL) has not been shy about its intentions in China. Now, it appears that Tesla Motors Inc (NASDAQ:TSLA) is hoping to expand into this market.
Despite the fact that Tesla Motors Inc has yet to spread its wing fully in the United States, the company is looking for ways to expand into other parts of the world. The challenges set forth in the Chinese market may scare some automobile manufacturers away, but Tesla Motors Inc (NASDAQ:TSLA) sees this as a great opportunity to do big things.
Here is an excerpt from China Car Times, touching on what to expect in the near future:
“The China Youth Daily reported late last week that Tesla are planning to open a sales outlet in the Beijing area very soon, although no time frame was given. Tesla was founded in 2003 and has quickly gained headlines all over the world for its range of luxury electric vehicles and also paying off government loans ahead of time.”
Tesla Motors Inc (NASDAQ:TSLA) may not be talking about its time frame just yet, however, many share the opinion that this is coming sooner rather than later.
Tesla vehicles have been a huge hit in the United States, along with the fact that the company’s stock has tripled in 2013.
Here is more from the same story, adding details on how the government is preparing:
“The government intends to release a new subsidy policy to popularize the purchase of hybrid and electric vehicles, replacing a previous policy that expired at the end of 2012, the official China Securities Journal reported on May 23, citing an unnamed official with the Ministry of Industry and Information Technology, the country’s industry watchdog.
The Chinese government plans to announce a new subsidy policy in the near future to further promote the take up of hybrid and electric vehicles, however Tesla as an imported product would not be able to take advantage. Furthermore luxury buyers are likely going to be uninterested in any government assistance in buying their cars, one potential drawback is a lack of rapid charging infrastructure in Beijing area.”
This is big news for both Tesla Motors Inc (NASDAQ:TSLA) and Chinese consumers. It will be interesting to see how cars from this company are accepted in Beijing.