Tesla Motors Inc (NASDAQ:TSLA) is building out its charging network as it’s getting ready for a summer debut of its Model X, which is a sport utility vehicle. A Bloomberg article reported on the news and discussed about the charging network Tesla Motors Inc (NASDAQ:TSLA) is building out for its Model X debut coming in a few months.
“Tesla is spending money to build out this dense network. Destination charging is becoming very important, and Tesla has the first-mover advantage,” said Ben Kallo, an analyst at R.W. Baird.
To increase sales in China, where Tesla Motors Inc (NASDAQ:TSLA) is struggling to overcome the perception that charging is inconvenient, destination charging is a key to the company’s efforts. This spring, the program will be expanded to Europe as well. Building out charging network and covering more of the landscape will not just be beneficial for Tesla Model X’s debut this summer but it will also help Tesla Motors Inc (NASDAQ:TSLA) to take on rivals and take fear out of peoples’ minds of being stranded by the side of the road with a dead battery while driving an electric car.
In 2014, Tesla Motors Inc (NASDAQ:TSLA)’s “Destination Charging” program began debuting at hotels and wineries, and has expanded to over 900 locations in the U.S. and Asia. The Destination Charging Program supplements an existing network of almost 400 supercharger stations that are located on highways between major cities typically at shopping centers. Many resorts, wineries and hotels have installed Tesla High Power Wall Connectors, which can send 80 amperes of electricity into a Model S and add 58 miles of range in an hour.
Tesla Motors Inc (NASDAQ:TSLA) is aiming to deliver about 55,000 vehicles in this year which is 74% more than 2014. The company’s investors will be watching closely to see if it can achieve such ambitious delivery targets after production hiccups led to an unexpected loss in the previous quarter. By building a powerful and effective charging network, Tesla Motors Inc (NASDAQ:TSLA) is preparing for its Tesla Model X debut to attract more and more customers and to make Model X a super hit in the market, leaving no point of objection for customers and rivals especially about recharging a Tesla Motors Inc (NASDAQ:TSLA) vehicle.
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