Last week, Tesla Motors, Inc. (TSLA) opened its 50th Supercharger in Europe at Narbonne, France. This took almost a year since the opening of the first European Supercharger in Norway in Aug 2013.
However, Tesla is rapidly expanding its Supercharger network in the continent. Since last week, it has opened 4 more Superchargers in Europe, taking the total count to 54.
Tesla is focusing on developing a Supercharger network in its main European markets like the U.K., Scandinavia, the DACH region, Benelux and France. The electric carmaker has connected most major cities and highways in Europe, from Scandinavia to the French Riviera, including popular routes such as Oslo-Stockholm-Copenhagen, Hamburg to Geneva and Berlin to Frankfurt.
These Superchargers provided over 600MWh of energy to Model S sedans in Europe in July, thus helping save 380,000 liters of petrol. This also helped in preventing carbon dioxide emissions of almost 1,100 tons in the month.
Tesla’s Superchargers not only provide free charging to Model S owners, but also charge faster than normal electric charging stations. They can restore half the battery charge in just 20 minutes and full charge in about 75 minutes, in comparison to normal charging stations that take as much as 9 hours for a full charge.
At present, Tesla is expanding the Supercharger network with admirable speed. The electric carmaker has 168 Superchargers globally, including 105 in North America.
Tesla currently carries a Zacks Rank #1 (Strong Buy). Other auto stocks worth considering include CarMax Inc. (KMX), O'Reilly Automotive Inc. (ORLY) and Pep Boys – Manny, Moe & Jack (PBY). All these stocks have a Zacks Rank #2 (Buy).
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