For investors in electric-vehicle maker Tesla (TSLA), the name of the name game has been its automobiles.
Let’s face facts, TSLA’s cars have basically brought “sexy” and performance to a relatively boring segment of the automobile marker. So it’s no wonder why — even with their steep $75,000-plus price tags — consumers have been snapping up roadsters and sedans.
However, there has been one major hurdle for TSLA stock and its cars — range anxiety.
The problem is that many motorists have a fear about driving their plug-in battery electric vehicles (BEVs) long distances and running out of “gas.” Tesla’s cars are no different, even with their above-average miles-per-battery life.
Simply put, many consumers believe that there aren’t enough places to “fill-up” on a long road trip. And with some BEV’s only getting about 75 miles per full charge, this fact is hindering widespread adoption of electric vehicles.
Well, for owners of a Model S, TSLA now has you covered from coast-to-coast.
Tesla’s newly launched country-wide supercharger network could finally be the catalyst needed to push TSLA stock and its vehicle sales into the stratosphere.
Charging Your TSLA From L.A. To New York
Despite the EPA-rated range of 265 miles-per charge for the TSLA Model S, range anxiety is still a huge factor when looking at Tesla’s future sales. Well, that was the case until TSLA upended the automobile market once again.
TSLA and SolarCity’s (SCTY) Elon Musk announced that the BEV maker has expanded its U.S. network of rapid chargers to create a charging corridor. That corridor will allow TSLA motorists to drive their cars from coast-to-coast for the first time — great news for TSLA stock.
According to Tesla’s website, the BEV producer has currently more than 71 stations across North America — extending from New England to Washington state and dipping as far south as Florida. Overall, TSLA and Musk estimate that about 80% of the U.S. population will be covered by the new network of chargers.
That number will jump to 98% of the U.S. population by the end of 2015 as Tesla expands the charger network. TSLA has similar plans for a European expansion of a charger network, in order to help juice sales on the continent.