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Tesla could benefit in China from… Formula E

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Tesla could benefit in China from… Formula E

The city of Beijing is preparing to host Formula E, the motor racing series that involves only electric cars and the image capital brought might surprisingly give a US automaker a boost.

While Tesla has been America’s investor sweetheart in the past years, the premium electric automaker faces many questions as it enters the world’s largest auto market. Because it’s imported it has a significantly larger price than in the US, which is not a factor in favor of a client who aims to buy an electric car – they are all more expensive over similar conventional models.

Tesla’s confident CEO and billionaire entrepreneur Elon Musk hopes the company would sell up to 8,500 Model S cars in China this year alone and move to match US sales in 2015.

As the Chinese government sees it, with Premier Li Keqiang making it clear in his keynote speech to parliament last month, pollution is now a huge problem in China.
So, here comes forth the Formula E, with a purpose-built street circuit that will surround iconic Olympic venues, including the Bird’s Nest and the Water Cube.

And, as the masses are always attracted to important sports events, Tesla could hope that if Formula E is a success, some of its image would translate into more buyers for the luxurious car it sells – as the market for premium vehicles is anyways poised to grow faster than the general one.

Via Forbes

by Aurel Niculescu (my Google+) - Monday, April 28th, 2014 - filed under Motorsport, News, Tesla. Image credit: .
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