Tesla Is Doubling Its Supercharger Network This Year

Tesla Inc (NASDAQ:TSLA) on Monday said it double the size of its vehicle charging network this year, as it seeks to provide owners with more convenient locations to charge their electric vehicles.

TSLA made the announcement today on its company blog in a post titled “Charging Is Our Priority”:

As Tesla prepares for our first mass-market vehicle and continues to increase our Model S and Model X fleet, we’re making charging an even greater priority. It is extremely important to us and our mission that charging is convenient, abundant, and reliable for all owners, current and future. 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 noted that while most users simply plug their Teslas in each night where they park — be it in a garage or a special EV parking spot — that those making long trips or simply in need of a fill-up will soon have many more options for doing so.

Many of the new charging stations will be installed in the busiest travel routes. These spots will be able to accommodate “several dozen” Tesla vehicles Supercharging simultaneously. Supercharging is a much faster than the normal charging method of simply plugging a vehicle into a traditional electrical outlet.

Tesla Inc shares were trading at $307.92 per share on Monday afternoon, up $2.32 (+0.76%). Year-to-date, TSLA has gained 44.10%, versus a 6.42% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 24 stocks in the Auto & Vehicle Manufacturers category.

Tesla Inc (NASDAQ:TSLA) was trading at $307.04 per share on Monday afternoon, up $1.44 (+0.47%). Year-to-date, TSLA has gained 43.68%, versus a 6.05% rise in the benchmark S&P 500 index during the same period.

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