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Tesla Motors Inc (TSLA) Aims To Smash China With Model S

We reported just a few days ago that the electric car manufacturer Tesla Motors Inc (NASDAQ:TSLA) was eyeing a long-term approach in which ‘developing economies’ such as China would be central to its strategy. Well, further developments since then and statements issued by the company has given some indication of the extent to which this scheme is intended to develop over the next few years.

Tesla Motors TSLA

The upper echelons of Tesla’s management has been speaking over the past few days about their hopes for the Chinese market in the next twelve months. Veronica Wu, vice president of Tesla’s China operations, told Reuters that Tesla Motors Inc (NASDAQ:TSLA) intends to open in the region of a 12 stores in China by the end of this calendar year. This number includes the unit opened in Beijing a few months ago which Tesla considers to be a flagship store.
China to drive Tesla growth

In accordance with this ambitious plan, Wu also stated that the company expects one-third of its global sales growth to come from China alone. The electric car specialist is hoping to achieve significant penetration into the Chinese marketplace owing to the fact that the rapidly industrialising nation is suffering from significant pollution issues. It is thought that on this basis the Chinese market will be one of the most fertile in the world for electric vehicles in the next few years.

Tesla Motors Inc (NASDAQ:TSLA) explained that the previous issues which it has experienced with regard to China have now been resolved, opening up this important market to their products. The company has been experiencing some difficulty owing to a trademark issue, but this quibble had now been resolved, ensuring that full entry into China was now achievable.

The issue centred around a trademark issue. A local businessman in China had registered the name “Te Si La” – the Chinese for Tesla – and had refused to budge on allowing Tesla to use it. Wu explained that the corporation had gone to court over the matter and managed to win, meaning that Tesla can use their appropriate Chinese name throughout the nation from now on. This is obviously a relief to the company, although hopefully the local businessman can still use it too!

Wu described Tesla Motors Inc (NASDAQ:TSLA)’s plans for the coming year as “very aggressive”, and the fact that she stated that Tesla is aiming to double its sales during 2014 from last year’s figures indicates how ambitious the targets are that they’ve set themselves. Wu expressed her confidence that these extremely challenging plans could be met, and also took time to reveal Tesla’s pricing strategy for its vehicles for the forthcoming yearhttp://www.valuewalk.com/2014/01/tesla-motors-inc-tsla-model-s-china/”>valuewalk.com
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