Tesla expands store presence in China to Inner Mongolia
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Tesla (NASDAQ:TSLA) opened its first physical store in Inner Mongolia with the location in Hohhot now operational.
The store opening is an indication of the electric vehicle maker's increased efforts to have a presence in North China.
Tesla (TSLA) stated that the store will provide consumers with one-stop services, including new vehicle delivery, inspection, insurance consultation, temporary license plate processing and vehicle maintenance.
Tesla (TSLA) is also looking to increase the expansion of its charging network in Inner Mongolia to make owning an EV more practical.
The government in Inner Mongolia is supporting the development of the new energy vehicle industry, including arranging special bonds worth $30M to support the construction of charging stations and hydrogen refueling stations.
Shares of Tesla (TSLA) are flat in premarket trading at $716.36 vs. the 52-week trading range of $593.50 to $1,243.49.