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Tesla Expects Big China Charging Station Investment

U.S. electric carmaker Tesla Motors Inc expects to invest "hundreds of millions of dollars" building charging outlets in China, which could become its biggest global market next year, billionaire co-founder Elon Musk said.Palo Alto, California-based Tesla plans to compete with rivals such as BMW and Daimler AG's Mercedes-Benz for a share of China's emerging green vehicle market, which the government wants to develop fast.Musk said Tesla hopes to cooperate with China's two major power network operators - State Grid Corporation of China and China Southern Power Grid - to build a sufficient infrastructure for Tesla drivers, although charging stations could also be built independently if needed."My instructions to the team are to spend money as fast as they can spend it without wasting it," CEO Musk told reporters on Tuesday at a ceremony in Beijing marking the first China delivery of its Model S sedan."In dollar terms I think over time we'll probably end up investing hundreds of millions ...

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  1. Daimler raises performance bar on profitability and pay

    Daimler AG has toughened its performance standards by weeding out weaker rivals from a peer group used to calibrate profitability and senior managers' pay, the Germa...

  2. U.S. Auto Industry Quality Slips, First Time in 16 Years

    Engine and transmission problems caused quality in the U.S. auto industry to slip for the first time in 16 years in a vehicle dependability study of owners of 3-year...

  3. Audi Opens Digital Showroom

    Audi has opened a "digital" showroom on a major Berlin shopping street, part of a shift by luxury carmakers to display vehicles virtually as they move into smaller, ...

  4. Is 'V-Commerce' the Next Big Trend for Startups?

    Harry’s co-founder Andy Katz-Mayfield believes more retail startups will pursue vertical integration, following the news on Wednesday that the shaving startup purchased a German razor manufacturer for $100 million.

  5. A whole new concept for Mercedes-Benz

    Daimler AG CEO Dieter Zetsche on what the company has in store for the future.

  6. Survey: Americans more confident in job prospects

    FBN's Peter Barnes breaks down results of the new Fed survey on consumer expectations.

  7. Retail stocks lead European markets

    IG markets analyst Alastair McCaig with the latest on the European markets.

  8. Europe Stocks Open Higher After Holiday Break

    European stock markets resumed trading on Friday on an up note, tracking gains seen in Wall Street the prior session. Markets were closed both Wednesday and Thursday...

  9. Europe Stocks Trade Higher; Oil Companies Dip

    European stock markets traded higher early Monday, with pharmaceutical companies and banks pushing north, while oil stocks fell after a deal between Iran and major w...

  10. Volkswagen to Set to Tighten its Belt in New Investment Plan

    Volkswagen's supervisory board should approve a five-year spending plan on Friday that aims to make the German carmaker the world's biggest while also trimming inves...

  11. Daimler wants to expand cooperation with electric-car maker Tesla

    Daimler AG , the German parent of Mercedes-Benz, would like to expand its cooperation with Tesla Motors Inc , the U.S. electric-car maker, a top Daimler executive sa...

  12. Volvo Posts Sharp Drop in Third Quarter Profits

    World number two truck maker Volvo posted a sharp drop in third-quarter profit, hit by a strong Swedish currency and the costs of its biggest ever introduction of ne...

  1. Diplomats call for de-escalation of tensions in Ukraine

    WisdomTree chief investment strategist Luciano Siracusano and Clearpool Group CEO Peter Kenny on how Ukraine unrest could impact the global markets.

  2. Jon Hamm unveils Mercedes’ new hot wheels

    Mercedes-Benz USA CEO Steve Cannon on company growth in the luxury car market.

  3. 3 Reasons To Be Bullish About The Recent Bearish News From China

    The recent default by Shanghai Chaori Solar Energy & Science Technology was an important event for China and the global economy for three bullish long-term reasons, ...

  4. Volkswagen to Spend $1B on New Poland Plant

    Volkswagen is to spend nearly 3.4 billion zlotys ($1.1 billion) on setting up a new plant in Wrzesnia, Poland, which will produce its Crafter large delivery van, the...

  5. BMW Aims To Sell Record 2 Million Cars in 2014

    BMW aims to sell a record 2 million cars or more this year, the world's largest luxury carmaker said, after posting better-than-expected results and raising its payo...

  6. Daimler says February sales growth very similar to January

    Daimler Chief Executive Dieter Zetsche said the growth rates for Mercedes-Benz in China were still strong.Mercedes-Benz had 45 percent sales growth in China in Janua...

  7. VW eyes 6.7 billion euro Scania buyout to seal trucks deal

    Volkswagen will submit a voluntary tender offer to shareholders of Swedish truck division Scania worth 6.7 billion euros ($9.21 billion) as it aims to jump-start a s...

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