Market News

 May 30, 2013
Tesla plans to triple Supercharger network

Now that Tesla is all square with the U.S. government, the electric carmaker is looking to take care of its customers.

Tesla Motors' CEO Elon Musk, speaking at the D: All Things Digital conference, revealed plans for a massive expansion of the company's Supercharger network, Bloomberg reports.

There are currently nine Supercharger stations in the United States which allow owners of the Model S to quickly recharge their car. There are two routes: one connecting San Francisco to Los Angeles, the other connecting Washington, D.C. to Boston.

Now Musk says the company will focus on tripling the number of Supercharger stations, covering most major metropolitan areas, and making a Los Angeles to New York trip possible by the end of the year. Without the charging stations the cars have an industry-leading 265-mile range per charge.

"Traditional charging has been way too slow and it's not effective for long-distance travel," Musk said in an onstage interview at the D: All Things Digital conference in Rancho Palos Verdes, California. "When people buy a car they're also acquiring a sense of freedom."

The announcement will likely only help Tesla's already sizzling stock, which has more than tripled this year.