WASHINGTON, May 9, 2013 - Tesla’s stock (TSLA) closed up a whopping 24.4% to $69.4 per share today on tremendous volume of 28.5 million shares traded. It was a wild ride for the stock today. The company posted a Q1 profit yesterday, and the demand for the Model S is above earlier expectations. CEO Musk credits the financing option as the primary reason for the recent demand increase.
Yes, the financing helps make the car more affordable, but it is Mr. Musk that is the key driving force behind the electric car revolution.
Tesla CEO Elon Musk tweeted today: “There is a way for the Tesla Model S to be recharged throughout the country faster than you could fill a gas tank.” Wow! What’s next? Mr. Musk has been planning a Supercharger announcement, and it sounds like it is going to be a revolutionary one.
Supercharger stations are free charging stations for Model S owners, and Tesla is in the process of developing this station network across North America and eventually Europe. The company has initiated the network in the United States, and it plans to start the European network in Norway in the near-term.
Tesla’s management has been talking for some time about the geographic expansion of the Supercharger network, but until recently, there was no hint of any major technological leap in the speed of the charging. Whether this is the case, we shall soon see.
If you can recharge a Model S “faster than you could fill a gas tank,” oil executives may object to this. Okay, there is reason to be a little jocular, because Mr. Musk is fun with these tweets, and the company is good for America and the world. Tesla is planning to start Model S exports to Europe and Asia this year, and as Americans we should feel proud that this all-electric car is homegrown technology. After all, electric cars are a big part of the solution to climate change and oil dependence.
Tesla plans to have most of the Supercharger stations powered by solar energy. It is certainly better for the environment to fill up on electric sunshine than gasoline.
And if you think gasoline prices are bad in the states, petrol prices are approximately double in Europe. The Supercharger stations are free for Model S owners for life, in Europe too.
Good company, good car, good for the environment: no wonder the stock is so hot.
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