Tesla Motors Inc (TSLA) expands in Europe and China, building Supercharger in Norway

Tesla Motors Inc. (NASDAQ:TSLA), a California-based electric car manufacturer, has just started their deliveries for the European market.  The company announced on July 27 that its Supercharger station in Europe is being built in Cinderella, Norway.  It is also expected to be opening a new 8,000 square foot showroom in China this year. The company is currently in a quiet period as the executives prepare to announce their earnings report on August 7.

Tesla Model S, Tesla Motors
Tesla Model S, Tesla Motors

The new showroom in mainland China is around three times larger than their U.S. showrooms.  It will be placed in central Beijing at the Parkview Green mall.  Auto industry analysts are saying that Chinese consumers have seen an increasing desire for luxury automobiles.  The Tesla Motors Inc (NASDAQ:TSLA) Model S vehicle can be looked up as a luxury vehicle.

Many Chinese customers will buy a Tesla Motors Inc (NASDAQ:TSLA) Model S vehicle to show off their wealth and demonstrate their love for the environment, according to Brannan Auto Engineering CEO Charlie Paglee in an interview with Mercury News. 

In Tesla’s May 8 earnings call, Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk said that they are expecting around 10,000 units a year in Europe and at least 5,000 in Asia.

Tesla Motors Inc (NASDAQ:TSLA) currently has a service center in Hong Kong that assists owners of the discontinued all-electric Roadster vehicle and handles Model S reservations.

In March this year, Tesla Motors hired Kingston Chang.  Chang used to work at Bentley China for about a decade.  Chang works as the general manager for China.

Source: PULSE 2.0

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