More Tesla Superchargers and other things that make Elon Musk smile

If Tesla puts more cars on the road, it needs a more robust charging network.

The Palo Alto electric vehicle maker expects to double the size of its Supercharger network this year, from more than 5,000 to over 10,000 globally. The company offered a few more details this week about its expansion plans and site selections for busy corridors.

Tesla expects to add about 1,000 new fast-charging stations in California and more than double its network across the U.S. It will also add thousands of lower-powered destination chargers at shops, hotels, restaurants and other wayside businesses.

“In 2017, we’ll be doubling the Tesla charging network, expanding existing sites so drivers never wait to charge, and broadening our charging locations within city centers,” the company said in a statement. It hopes to have new charging stations ready for the summer travel season along popular long-distance routes.

The company is expected to release the lower-cost Model 3 sedan this year, and dramatically increase the size of its electric vehicle fleet. The company produced about 84,000 Model S and Model X vehicles last year, a record for the manufacturer. It hopes to produce a half-million vehicles in 2018.

Despite the aggressive growth plans, two analysts this week cast shade on Tesla. Bank of America analyst John Murphy thinks the SolarCity acquisition will drag down earnings per share and predicts a tumble for the stock.

David Einhorn, CEO of Greenlight Capital, quipped that Tesla stock may be benefiting from unrest in Washington, D.C. “Perhaps as the prospects for tax reform have dimmed, the market has regained enthusiasm for profitless companies that aren’t at risk of paying taxes. A number of these stocks are back in full-blown momentum mode,” according to a letter reviewed by Business Insider. The fund has a short position on Tesla.

Still, CEO Elon Musk has been all smiles with a smudge of what looks like Amber-rouge lipstick on his cheek.

Photo: Tesla charging stations are photographed next to the former town jail on Wednesday, Feb. 1, 2017, in Groveland, Calif.  (Aric Crabb/Bay Area News Group)

 

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  • What_the

    Tesla—-the company that’s not at risk of making a profit in the near or distant future.

    • Dale Smith

      Check back again next year. If the Model 3 rollout is a success, Tesla will be making a profit by 2019. If not, you are probably right. I put the odds of you being right at 1:5.

 
 
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