Can Tesla's Charging Network Supercharge Its Stock?
's (NASDAQ: TSLA) Supercharger network has grown to nearly 2,000 locations in the U.S. and comprises nearly 22,000 chargers. The total rises to around 50,000 if counting charging stations outside the U.S.
The American Automobile Association cited the lack of convenient charging options as a reason many consumers do not want electric vehicles (EVs). Hence, the fact that the network is popular among Tesla owners is encouraging. And several legacy auto manufacturers have partnered with the company to stimulate sales of their EVs.
Such an approach is new for the auto industry, as owners of petroleum-powered vehicles buy fuel from oil companies. And other companies have established competing charging stations. Thus, investors should ask whether the network helps Tesla's shareholders.
Source Fool.com
Tesla Inc Stock
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