Tesla Commits to Further Expansion in Europe

GENEVA, Switzerland, March 4, 2014/PRNewswire/ - In order to serve a growing customer base in Europe, Tesla will open more than 30 new service centers and stores across the continent, the company announced today at the Geneva Motor Show. Tesla will also continue rapidly expanding its Supercharger network, allowing Model S drivers to travel long distances across Europe for free. The retail, service, and Supercharger expansions come as Tesla dials up its commitment to Europe, which continues to be a priority market for the company.

In a recent trip to northern Europe to engage with customers, Tesla co-founder and CEO Elon Musk highlighted the rapid increase in the rollout of the company's Supercharger network for Europe. "By the end of this year, we expect you will be able to travel almost anywhere in Europe using only Superchargers," Musk said.

In 2013, Tesla delivered 22,477 vehicles to customers worldwide. By the end of 2014, Tesla expects combined sales in Europe and Asia to be almost twice as high as sales in North America. Part of that projected growth will come from the UK, where right hand drive versions of the Model S will soon be introduced. Highly competitive leasing and financing options, similar to a program the company recently launched in Germany with rental company Sixt, are also expected to drive growth on the continent.

The European launch of Model S has been successful not only in terms of sales, but also for the accolades awarded to the car. In 2013, Model S was named Car of the Year in Sweden and Norway, Most Stylish Car in Switzerland, and it won the Car of the Year Prize of Honor in Denmark.

Forward-Looking Statements

Certain statements in this press release, including statements regarding future store, service center and Supercharger locations and capabilities as well as statements regarding sales expectations in Europe and Asia, are "forward-looking statements" that are subject to risks and uncertainties. These forward-looking statements are based on management's current expectations, and as a result of certain risks and uncertainties, actual results may differ materially from those projected. Various important factors could cause actual results to differ materially from those in the forward-looking statements, including potential difficulties in finding suitable store, service center and Supercharger sites, negotiating leases or obtaining required permits for such locations and customer acceptance of our brand and vehicles in Europe and Asia, as well as the risks and uncertainties identified under the sections captioned "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results Of Operations" in Tesla's Form 10-K filed on February 26, 2014. Tesla disclaims any obligation to update information contained in these forward-looking statements.

Source: Tesla Motors

CONTACT:

Kathrin Schira

phone +49(0)151-161-59991

e-mail: EUPress@teslamotors.com

Twitter: @Tesla_Europe

Source: PR Newswire

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