Tesla Motors Inc (NASDAQ:TSLA) has plans to modify its vehicles to suit the charging standards in the Chinese market for electric automobiles.
The automobile company has plans to boost its electric vehicle sales in China. The Chinese government is also in support of an increased number of electric vehicles because it will help reduce carbon emissions. Unfortunately the lack of proper charging systems is a limiting factor for the project and there has been no efforts to lay down the infrastructure.
All that is about to change because Tesla will be getting in on the action. The electric vehicle manufacturer is in full support of the mission to restructure the charging system in the country. Tesla also revealed that it will modify its electric vehicles to suit the charging requirements in China.
The Chinese government on the other hand is at work to develop National charging Standards that will encourage the preference for electric cars. One of the major discouragements is the time taken to charge up. Also the lack of enough charging stations has contributed largely to the slow adaptation of electric automobiles in China.
Since its launch in April 2014, Tesla has been having a hard time trying to achieve its sales estimates in the county. The company has sold only 2,500 vehicles in the nine months since it launched. The low sales might also be attributed to the fact that most of the urban residents in China live in Apartments. In most of the parking spaces that belong to these apartments, charging stations have been banned because they are seen as fire hazards.
So far, Tesla Motors Inc (NASDAQ:TSLA) has built over 50 high-speed charging stations in the country. The electric vehicle company also has plans to build 700 new charging stations which will be distributed to 70 cities in China. Once the technology and the infrastructure is in place, it will be the second biggest charging plan in the world, second to the one in the US.
Tesla hopes the new changes will help improve the demand for electric cars. If so, sales will go up making China the potentially biggest market for electric automobiles.
