NEW YORK (TheStreet) -- Tesla Motors (TSLA) shares are down 0.3% to $217.55 in trading on Friday, the same day the electric vehicle manufacturer unveiled its first battery-swap station in California between San Francisco and Los Angeles. The stations are designed to refuel the lithium ion batteries that power Tesla's vehicles.
A little over 45 minutes ago Tesla CEO Elon Musk tweeted, "Pack swap now operating in limited beta mode for SF to LA route. Can swap battery faster than visiting a gas station. Tesla blog out soon."
Last year the company demonstrated that the Model S battery could be charged in about half the time it takes to fill the tank of a gas powered vehicle. On average Tesla batteries have a range of about 350 miles.
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TheStreet Ratings team rates TESLA MOTORS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate TESLA MOTORS INC (TSLA) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, weak operating cash flow and generally high debt management risk."