From close of trading Monday, Sept. 22, through Monday, Sept. 29, Tesla (NASDAQ: TSLA) fell 1.91 percent. The market as a whole was down for that time period, but TSLA trailed the overall market by more than a percentage point, with the Dow falling 0.59 percent, NASDAQ falling 0.48 percent, and the S&P 500 falling 0.83 percent for the week.
Tesla Sales Strong in China, Goldman Sachs Says
Last Tuesday, analysts at Goldman Sachs released a positive note about TSLA, saying that demand for the Model S is strong in China. There are reservations for 4,000 cars, the note said, and a waiting period for the cars that has increased from four to six months.
Despite the popularity of Tesla cars in China, Tesla may face an obstacle in becoming established there, according to the Wall Street Journal. Setting up home charging stations is a challenge in a country where nearly three-quarters of urban families live in multifamily housing, rather than single-family homes. When Tesla owners don’t have a private garage, the six-foot-high charging stations have to be installed in the street or in shared garage space — and getting the approval of property managers is sometimes difficult.
Tesla to Double Its Hong Kong Workforce.
The Hong Kong government, which is committed to sustainable technologies, announced on Thursday that Tesla will double its workforce there. The territory’s small size means that electric-vehicle owners will only have to charge their vehicles once per week, making electric cars highly practical and convenient. Tesla hopes Hong Kong will become the “Norway of Asia” — a showcase for the adoption of electric-vehicle technology.