Tesla Motors hopes to expand into Asian markets, Ingram writes, a move that would include new model launches, new factories, and hopes for new demand.
Tesla Motors has made no secret of its plans to move into the Asian market, and the company now says manufacturing plants in both Europe and Asia are on the cards. It's part of a large expansion planned for the electric car startup over the next few years, including new model launches, new factories and expectations of continually increasing demand.
According to Bloomberg, CEO Elon Musk says the arrival of a new, smaller model--potentially called the Model E, as a trademark filed last week suggested--will require the building of new plants. Tesla Motors [NSDQ:TSLA] expects demand for the Model S sedan alone to hit 21,000 units this year, and that number could double in 2014.
The new plants are best located close to its customers. The current Fremont plant is ideally located for U.S. sales, but less so for European and Asian markets. Tesla already assembles some Model S components in its recently-opened facility in Tilberg, Netherlands, from where it's conducting its European operations.