Having been repeatedly reminded that its markets are precariously close to saturation point in North America and Europe, Tesla Motors Inc (NASDAQ:TSLA) released its blueprint for expansion into Asian markets, namely China and Japan, as forecasted for the year 2015. Obviously this pertains to the latest model of the company namely Supercharger, also known as Model S which has already been launched in the two Asian countries.
While in China Tesla Motors Inc (NASDAQ:TSLA) commenced delivery of Model S earlier during this year, in Japan the same exercise began on Monday, 8th September, 2014. Hong Kong has also been a part of the company’s plan and was witness to the company supplying right-hand vehicles from July onward.
The primary reason for China featuring in the company’s plans in a big way is owing to the country’s penchant for saving the environment and hence its citizens’ preference for anything that is projected as being eco friendly. That said, whether or not they would want to spend as much as $70,000 on a vehicle is something that remains to be seen. Being cognizant of the fact that people nowadays look for cars that may be expensive but require minimal maintenance, Tesla Motors Inc (NASDAQ:TSLA) intends to introduce cheaper versions too.
At present, the company boasts of 17 charging stations in both China and Japan as compared to 112 in North America and 61 in Europe. North America has also been granted the privilege of being provided with supercharger stations that provide half-charge within as short as 20 minutes.
Despite analysts’ pessimism, Tesla Motors Inc (NASDAQ:TSLA)’s performance as regards its shares has been impressive with a gain of 86% and the recent weeks have been particularly tumultuous for the company. There were days when the share value closed at $286.04 and also times when the value touched an all-time high of $291.42. All of this caused Elon Musk, CEO, Tesla Motors Inc (NASDAQ:TSLA) to remark that shares were on the higher side and this in turn triggered selling.
Overall, what is evident is the company’s intention to explore new horizons and broaden its play ground by making a breakthrough in Asian countries as also Australia.
This article has been written by Vinita Basu.