Tesla Motors Inc (NASDAQ:TSLA) has finally got the approval from authorities to open four new charging stations for its customers in the New Jersey Turnpike service areas. An agreement between Tesla Motors Inc (NASDAQ:TSLA)’s officials and New Jersey Turnpike administration was signed on Tuesday, an article on NJ reported. New charging stations will be opened in Molly Pitcher and Joyce Kilmer services areas. There will be no expense for toll payers. New charging stations will facilitate the Tesla Motors Inc (NASDAQ:TSLA)’s customers from local and surrounding areas.
The source quoted John O’Hern, authority deputy executive director, who said that Tesla Motors Inc (NASDAQ:TSLA) approached Turnpike authorities to install new charging stations last year. Since then, the matter was being discussed in the assembly. There was also some opposition to this step, but finally, the decision has been taken and Tesla Motors Inc (NASDAQ:TSLA) has got the approval. O’Hern thinks that this is the best way to authorize the company to install the new stations because it is in accordance with the market trends and competition dynamics.
According to O’Hern, four new parking stalls will be set up for Tesla Motors Inc (NASDAQ:TSLA)’s charging stations. He said that the local traffic and parking areas will not be disturbed because of this. Tesla Motors Inc (NASDAQ:TSLA) will wire the stations in order. It will help other electric car companies to start their own charging stations in the future.
O’Hern said that Tesla Motors Inc (NASDAQ:TSLA)’s new charging stations will be established by the end of the current year. A lot depends on the when Tesla Motors Inc (NASDAQ:TSLA) gets permits to start working in the area. Charging at the new stations will be free of cost.
Daniel Benton’s Andor Capital Management is one of the shareholders of Tesla Motors Inc (NASDAQ:TSLA), having around 1.25 million shares of the company.
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