Tesla Readies 30 New European Locations Amid International Sales Push
While it gets underway with its enormous Gigafactory project here in the states, Tesla Motors (NASDAQ:TSLA) isn’t letting its international operations fall by the wayside, as it looks to ramp up its production globally. Among its plans for newer markets, Tesla is looking to install thirty more service and sales locations in Europe, Bloomberg reports.
The company is anticipating that its combined sales in Europe and in Asia will reach about double the sales in North America, according to a statement that it delivered at the Geneva Motor Show. Helping to boost its European presence will be the introduction of a right hand-drive version of its Model S sedan in the United Kingdom and new leasing and financing plans for European customers.
Tesla’s outlook calls for a 55 percent leap in deliveries for 2014; the company sold a little more than 22,000 Model S cars last year. With the Gigafactory underway, Morgan Stanley analyst Adam Jonas says the lowered cost of battery cells could result in a doubling of Tesla’s market share to a full percentage point.
Currently, the Model S is available in Belgium, Denmark, Germany, and Switzerland, implying there is still tremendous room for growth on the continent. The same could be said about Tesla’s status in Asia: It’s aiming to begin sales of the Model S in China this year.
Helping Tesla’s growth prospects for the years ahead will be the production of the Model X crossover SUV, which will be Tesla’s first — and likely an industry first — all-wheel-drive electric vehicle. While it’s expected to run about the same price of the Model S, the Model X is geared to take on the likes of BMW’s X5 and the Mercedes-Benz M Class, as well as other luxury players — just without the thirst for fuel.
The plan from there is to build a high-volume, lower-cost Model E, or Gen-III, which will push Tesla into being a more mass-market player rather than a niche vehicle manufacturer. The Model S was named Car of the Year in Sweden and Norway, Most Stylish Car in Switzerland, and it won the Car of the Year Prize of Honor in Denmark in 2013 (in addition to the numerous North American awards it received), so Tesla has big shoes to fill with its new entry-level offering.