Daily Management Review

Tesla to invest over $500 million to expand its network of EV fast charging stations


According to the company’s Chief Executive Officer Elon Musk, Tesla Inc. would spend more than $500 million this year to increase the number of fast-charging stations for electric vehicles in its network.

Jakob Härter
Jakob Härter
Tesla plans to set up "thousands of new charging stations," according to Elon Musk’s post on social media on Friday.

Musk dissolved nearly the whole staff of the division in charge of the Supercharger network of rapid charging locations earlier this month. He remarked at the time that while he would keep growing the company, the network's growth would decelerate.

In pre-trading on Friday, Tesla shares saw a 1% increase in price.

It was previously reported that BP is considering purchasing Tesla rapid charging stations for electric vehicles in the US.

source: cnn.com