Tesla (TSLA) Is Building a Charging Network in China

NEW YORK (TheStreet) -- Tesla (TSLA) announced Friday that it has plans to build a network of EV charging stations throughout China as it prepares to start selling the Model S in the country.

Shares of Tesla were falling 1.5% to $201.10.

The EV automaker is expected to put service centers in Beijing, Shanghai, and four other metro areas before the fall. Tesla is also training third-party electricians to setup charging stations. The company promised in January that will eventually build a free-to-use supercharger network in China.

Tesla will begin selling the Model S in China this month.

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TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate TESLA MOTORS INC (TSLA) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."

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