Back to top

Analyst Blog

Tesla Motors, Inc. (TSLA - Analyst Report) has announced the opening of its first Supercharger station in New York. This new charging station will greatly benefit customers, who can charge their vehicles at the charging station free of cost. At the station vehicles will get fully charged within half an hour.

Tesla’s market penetration in New York is currently concentrated in Manhattan. However, the new Supercharger station is not situated in Manhattan. Tesla’s latest Supercharger station is located at the intersection of 150th Avenue and 147th Street in Queens, at a JFK Airport travel plaza. Nevertheless, it is the Supercharger closest to Manhattan, followed by the one in Darien, Connecticut, an hour's drive from Manhattan.

Tesla supports this move reasoning that Superchargers are needed for long trips and not for daily charging. So the charging station is not built in Manhattan where daily charging can be managed at the normal electric charging stations built by the city.  

A growing number of parking places in Manhattan now offer charging options, while the cheapest version of Tesla’s Model S provides 230 miles per charge. Thus, Tesla plans to build Superchargers between major cities and tourist destinations, to support long distance travel.

Tesla is focused on expanding its network of Supercharger stations. At present, the automaker has 48 Superchargers in U.S., a large portion of which are located on the West Coast. Tesla plans to increase the number of Superchargers to such an extent that even coast-to-coast road trips will be possible in a Model S.

Tesla currently has a Zacks Rank #4 (Sell). Other prominent companies in automobile market include Honda Motor Co., Ltd. (HMC - Analyst Report), Tata Motors Limited (TTM - Snapshot Report) and Ford Motor Co. (F - Analyst Report).

 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
RPC INC RES 24.91 +8.35%
LITHIA MOTO… LAD 94.59 +4.60%
DELTA AIR L… DAL 39.15 +3.90%
FLAMEL TECH… FLML 14.51 +3.50%
SOUTHWEST A… LUV 28.87 +2.92%