WASHINGTON, May 23, 2013 – Tesla Motors plans to start exporting Model S cars to Europe in July and to Asia in the fourth quarter. Tesla CEO Elon Musk estimated on the Q1 conference call that the company would deliver about 5,000 Model S cars to Europe in 2013 and approximately 1,000 to Asia. Since European petrol prices are approximately double gasoline prices in the United States, Tesla has good reason to be confident in future European sales. The company has made plans to offer Model S financing in Europe as well, which will significantly increase the market potential of the car, especially after considering fuel savings.
Tesla plans to make its first European deliveries to Norway. Earlier in the year, Mr. Musk made a stop at the capital, Oslo, to make a couple of announcements about Model S deliveries and Supercharger plans. The Norwegians lead the world in EVs per capita, so the country is an excellent launching pad for the Model S. Undoubtedly, European EV enthusiasts will help spread Tesla’s story, as has been the case in the United States. To date, Tesla has done very little marketing in Europe, so the company has plenty of possibilities to grow its order bookings.
With its recent capital-raise behind it, Tesla’s balance sheet looks solid. The company is profitable. And, its outlook is superb. Better yet, the controversy around the Department of Energy loan has been silenced, which is one less distraction for management. Management can now aggressively tell its all-electric story to America and the world with a bit more vigor and pride.
Tesla is focused on EV adoption and appears to be in it for the long haul. The company has begun to tell a great story, and the stock market has obviously approved, given recent trading action in the company’s shares (symbol: TSLA). Today, even as the market wavered with uncertainty as to the United States’ economic trajectory, TSLA closed up 6.3% to $92.73 per share on above average volume of about 12 million shares.
With doubts about the EV revolution beginning to fade, Tesla’s all-electric vision is solidifying. Clearly, Team Tesla has won the respect of Wall Street and many hearts and minds on Main Street. Europe is next.
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