Tesla Inc (NASDAQ: TSLA) has now installed 6,000 Supercharger stations across its key market of China.
What Happened: The milestone was reported by Tesla accessories site, Tesmanian.
Tesla last month opened a new Supercharger factory just kilometers away from its Giga Shanghai plant.
Why It Matters: For readers unfamiliar with why the Supercharger is so “Super,” the stations are capable of providing a battery recharge for up to 200 miles of range in 15 minutes.
With more than 20,000 Superchargers, Tesla owns and operates the largest global, fast-charging network in the world. Superchargers, in large part, are located on major routes near convenient locations.
It’s no secret China has been a hub for sales growth for Tesla, as the company said in its annual report that 21.11% of its total global revenue of $31.54 billion for 2020 originated from China.
Rapidly increasing the presence of Superchargers in China would help Tesla’s brand awareness and customer satisfaction in the market.
Price Action: Tesla shares ended down about 4% on Friday, ending the after-hours session at $596.25, according to Benzinga Pro.
Tesla shares are trading lower in sympathy with the overall market amid continued concerns over increased bond yields, which have heavily impacted stocks across sectors.
The stock has a 52-week high of $900.40 and a 52-week low of $70.10.