Tesla To Spend $6.4M On New Supercharger Factory In China

Tesla Inc TSLA is investing in another factory to build one of its most important products.

Reuters reports that Tesla China will invest $6.4 million in a new factory to produce up to 10,000 new Superchargers per year to serve the domestic market.

Superchargers allow customers to charge their electric vehicles quickly, and Tesla aims to have enough of them distributed so customer can worry less about facing range problems.

Benzinga's Take: As Tesla sells more vehicles, and China continues to subsidize EVs, chargers will be critical for meeting demand. Tesla has more than 180 Supercharger stations in China. 
Tesla's global charging network has over 20,000 Supercharging stalls. 

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Gary Anglebrandt contributed to this report.

Photo courtesy of Tesla