As the Model 3 Launch Nears, Tesla, Inc. Plans Massive Service Expansion

With Tesla's (NASDAQ: TSLA) first deliveries of its lower-cost Model 3 just a few weeks out, the electric-car maker's business is about to go through a major change. Since management expects the $35,000 vehicle to increase Tesla's annual production from a rate of 100,000 units today to 500,000 units next year and 1 million units by 2020, Tesla is not only going to need much higher production capacity, but also sufficient sales, service, and charging networks to support this higher volume.

In anticipation of its Model 3 launch, Tesla has already begun doubling down on its Supercharger network, recently announcing a massive expansion to the fast-charging stations, which already enable driving anywhere in the U.S. (except Arctic Alaska) and most of Europe, China, and Japan. And now Tesla's next focus is the future of Tesla service.

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Source: Fool.com