Tesla Supercharger Network Growth Slows Sequentially: EV Giant Adds 2,800 Stalls In Q3
Portfolio Pulse from Anan Ashraf
Tesla's supercharger network growth slowed in Q3 2023, with 2,800 new stalls added, marking a 23% year-on-year increase but only a 4.7% quarter-on-quarter growth. This slowdown follows layoffs affecting the supercharging team. Despite this, Tesla plans to invest $500 million in network expansion this year.
October 07, 2024 | 5:56 am
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Tesla's supercharger network growth slowed in Q3 2023, with a 4.7% quarter-on-quarter increase, down from 7.4% in Q4 2023. This slowdown follows layoffs affecting the supercharging team. Despite this, Tesla plans to invest $500 million in network expansion this year.
The slowdown in Tesla's supercharger network growth could be seen as a negative, but the company's commitment to a $500 million investment in expansion may offset concerns. The layoffs and leadership changes in the supercharging team could have contributed to the slower growth. Overall, the impact on Tesla's stock price is likely neutral in the short term as the market may weigh the slower growth against the planned investment.
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