Tesla Motors Means Business, Conquers Norway
Within 24 hours, Tesla Motors made these two tweets:
In other words, Tesla just went from zero to six Superchargers in Europe in one day. And according to another tweet, 6 Superchargers in Norway puts 90% of Norwegians within 320 km of a Supercharger station, "well within the Model S' 425 km range."
Supercharger coverage in Norway. Source: Tesla Motors official Twitter feed.
With 90% of Norwegians within range of a Supercharging station, the company exceeded the plan for 80% coverage that it laid out in the second quarter letter to shareholders.
Tesla said in its second quarter letter to shareholders that the company would begin its European expansion with deliveries to Norway, Switzerland, and the Netherlands.
"In Norway alone, we expect to deliver almost 800 vehicles this year based on current orders," the letter said.
A key point bears are missing
Though Tesla's stock boasts a dubiously lofty premium, this is still the wrong stock to short. If there's one aspect it seems like the bears are overlooking, it's Tesla's Superchargers expansion.
By 2015, the company plans for 98% of the U.S. population to have access to a Supercharging station.
Tesla Superchargers planned for 2015. Gray and red dots both indicate Supercharger stations. Source: Tesla Motors website.
And now investors are beginning to get a first glimpse of Tesla's ambitions for Supercharging stations in Europe -- and it's looking good.
Tesla is hedging its success with its aggressive Superchargers expansion by building out the infrastructure needed to support high volume production. And now with the company's aggressive expansion in Norway, investors can be even more confident in the its plan to expand its infrastructure.
This story is just another reason why Tesla stock is likely worth holding onto over the long haul, even at today's lofty valuation.
The article Tesla Motors Means Business, Conquers Norway originally appeared on Fool.com.Fool contributor Daniel Sparks owns shares of Tesla Motors. The Motley Fool recommends Tesla Motors. The Motley Fool owns shares of Tesla Motors. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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