Updated 8 March 2021 at 17:19 IST
Elon Musk's Tesla begins construction of first-ever Supercharger station in Israel
Elon Musk-owned Tesla Inc. is looking to increase its footprint in Israel by building the first-ever 'Supercharger' in the Middle-Eastern country.
- World News
- 2 min read
Elon Musk-owned Tesla Inc. is looking to increase its footprint in Israel by building the first-ever 'Supercharger' in the Middle-Eastern country. Tesla Inc. is reportedly building a V3 Supercharging station at Azrieli Mall in Tel Aviv, which will have eight supercharging ports. According to Tesmanian, the stalls were planned for Quarter 1 of 2021 and are currently going as planned. The charging station is looking almost ready to open for the public as stalls have already been installed.
Instagram user 'israelevclub' shared a picture of the Tesla charging station from Tel Aviv. In the picture, one can see all eight charging ports installed at the station, looking ready to begin operation in the coming weeks. Israel is relatively a new market for Tesla as the company officially entered the Middle-eastern country just last month. The basic Tesla Model 3 vehicle has been priced at $54,000 (About INR 40 lakh) in the country, however, the top end of the car could reach as high as $75,000 (INR 54 lakh).
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Tesla's India entry
Earlier this year, Tesla made its long-awaited entry in India, registering a company in Karnataka's Bengaluru city. Karnataka chief minister BS Yediyurappa welcomed the US electric car manufacturer and wished Elon Musk well for his future endeavors. Tesla is likely to set-up a Gigafactory in India and is reportedly in touch with numerous state governments for the same. The first Tesla car to be launched in India will likely be the cheapest Model 3 vehicle.
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Tesla's share price drop
Meanwhile, Tesla is presently suffering on the market front as the company recorded a downfall in share prices last month. Tesla's share price is seeing a downfall as investors are worried that the car company may be vastly overvalued. Also, rising US bond yields are making companies that pay small dividends unappealing and Tesla has never paid dividends, reported The Guardian citing analysts. The share price closed at 3.8 per cent down to $567 billion last Friday.
Published By : Vishal Tiwari
Published On: 8 March 2021 at 17:19 IST