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Tesla Motors Inc (TSLA): Ford Motor Company (F) Set to Build 200 New Charging Stations

Today, Ford Motor Company (NYSE:F) announced the construction of 200 charging stations for electric vehicles in Canada and the U.S. As demand for electric vehicles increases, infrastructure problems are becoming noticeable and hence, the Detroit automaker has taken steps to change this scenario. Much like Tesla Motors Inc (NASDAQ:TSLA), Ford Motor Company (NYSE:F) has been a successful early adopter of electric vehicles. The Focus Electric model, an all-electric car, has experienced rapid sales growth, as have the firm’s two plug-in hybrids, Fusion Energi and C-MAX Energi. Ford Motor Company (NYSE:F) sold 8,292 of these units in the U.S., which translates into a 288% sales increment year-over-year.

Ford Motor Company (NYSE:F)

In this regard, Ford Motor Company (NYSE:F)’s global director of Vehicle Electrification and Infrastructure, Mike Tinskey, stated in a press release that, “We know that a growing electrified vehicle infrastructure is key to making plug-in vehicles a viable option for more consumers”. Committed to the idea of expanding its network of charging stations, the addition of 200 new charging sites will bring the total number up to more than 1,900. These are installed in dealerships, company facilities, and product development campuses, primarily for employee use. Tinskey said that being able to charge at work is one of the keys to lowering costs and making electric vehicles more convenient.

Construction is planned to begin by the end of 2013 and the cost for a full charge is predicted to have a cost of 50 cents per vehicle. Also, the machines will allow the firm to conduct usage research because they will be interconnected. By creating a wide network of charging stations, Ford Motor Company (NYSE:F) seeks to promote a greater usage of electric vehicles. Since these cars depend on such a network to be utilized efficiently, it comes as little surprise that manufacturers have ramped up infrastructure from 3,000 stations in 2009 to around 20,000 this year.

Other firms, such as General Motors Company (NYSE:GM), Nissan Motor Co., Ltd. (ADR) (OTCMKTS:NSANY) and Tesla Motors Inc (NASDAQ:TSLA), have also set up charging stations in the U.S. The stations are located at the companies’ facilities and were originally intended for employees only. However, the general public can now access many stations. As demand for electric vehicles continues to rise, a large network of charging stations is expected to be put in place.

Disclosure: Pablo Erbar holds no position in any stocks mentioned

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