Share This Article

Facebook LinkedIn
Twitter Reddit
Print Email
Pinterest Gmail
Yahoo
Money Morning
×
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • Angel Investing
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
  • Retire
    • Income Investing Guide
    • Retirement Articles
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
Login My Member Benefits Archives Research Your Team About Us FAQ
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • Angel Investing
    ×
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
    ×
  • Retire
    • Income Investing Guide
    • Retirement Articles
    ×
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    ×
  • Subscribe
Enter stock ticker or keyword
×
Join 100,000+ Like-Minded Investors Today
Twitter
Tags: Top News

Tesla (Nasdaq: TSLA) Has a Huge Future in China

By Kyle Anderson, Associate Editor, Money Morning • @KyleAndersonMM • April 22, 2014

Start the conversation

Comment on This Story Click here to cancel reply.

Or to contact Money Morning Customer Service, click here.

Your email address will not be published. Required fields are marked *

Some HTML is OK

In a public event today (Tuesday), Tesla Motors Inc. (Nasdaq: TSLA) Chief Executive Officer Elon Musk hand-delivered China's first Model S sedans to customers in Beijing.

The event marks Tesla's entrance into a country that has been viewed as a potential game changer for the electric-vehicle pioneer.

NAsdaq: TSLAChina has announced it wants 500,000 electric and plug-in hybrid vehicles operating in the country by 2015, and 5 million by 2020. China's huge demand would go a long way toward Tesla achieving its goal of producing 500,000 vehicles per year by 2020. By comparison, the company expects to produce 1,000 vehicles per week by the end of 2014.

Unfortunately for both parties, the country is far from achieving those goals. According to the data consultancy firm Automotive Foresight, only 11,410 electric vehicles and just over 1,000 plug-in hybrids were sold in China in 2013.

Sign up for SMS so you never miss special events, exclusive offers, and weekly bonus trades.

A lack of charging stations in China is seen as a major hindrance to Tesla sales - but a problem Musk is determined to solve. Tesla and Musk are working now to create a large "network" of charging stations similar to what the company has constructed in the United States.

"My instructions to the team are to spend money as fast as they can spend it without wasting it," Musk told reporters in Beijing Tuesday. "In dollar terms I think over time we'll probably end up investing hundreds of millions of dollars in charging infrastructure in China."

Before his trip to China, Musk also told reporters that the company plans to begin manufacturing vehicles in China within the next three or four years. That would cut down on the price Chinese consumers pay for the Model S sedans.

"At some point in the next three or four years we'll be establishing local manufacturing in China," Musk said. "China is very important to the future of Tesla."

Tesla began allowing preorders in China of Model S sedans in August 2013, and the company has been charging $118,000 for the luxury vehicle in China. That's about 50% higher than the base retail price in the United States, and the company has attributed the increase to "unavoidable taxes, customs duties and transportation costs."

The move into China is a huge step forward for the company, as the country is a major key to the company's and TSLA stock's success moving forward...

Join the conversation. Click here to jump to comments…

Login
guest
guest
0 Comments
Inline Feedbacks
View all comments


Latest News

June 6, 2023 • By Tom Gentile

This Secret Options Pattern Is More Reliable than Price Movement

June 6, 2023 • By Shah Gilani

earnings
AI Is Going to Send This Stock Skyward - Buy It ASAP

June 6, 2023 • By Garrett Baldwin

Postcards: These Four Stocks Are Showing Real Momentum
Trending Stories
ABOUT MONEY MORNING

Money Morning gives you access to a team of market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.

QUICK LINKS
About Us COVID-19 Announcements How Money Morning Works FAQs Contact Us Search Article Archive Forgot Username/Password Archives Profit Academy Research Your Team Videos Text Messaging Terms of Use
FREE NEWSLETTERS
Total Wealth Research Power Profit Trades Profit Takeover Penny Hawk Trading Today Midday Momentum Pump Up the Close
PREMIUM SERVICES
Money Map Press Home Money Map Report Fast Fortune Club Weekly Cash Clock Night Trader Microcurrency Trader Hyperdrive Portfolio Rocket Wealth Initiative Extreme Profit Hunters Profit Revolution Quantum Data Profits Live Trading Alliance Trade The Close Inside Money Trader Expiration Trader Flashpoint Trader Darknet Hyper Momentum Trader Alpha Accelerators Weekly Profit Cycles Brutus Alerts Resource Traders Alliance

© 2023 Money Morning All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning.

Address: 1125 N Charles St. | Baltimore, MD, 21201 | USA | Phone: 888.384.8339 | Disclaimer | Sitemap | Privacy Policy | Whitelist Us | Do Not Sell or Share My Personal Information

wpDiscuz