Tesla needs $8 billion to compete with U.S. gas stations

Tesla requires an $8 billion investment if it wants to make charging stations in the U.S. as available and convenient as regular gas stations.

If Tesla were to expand its charging station network in order have recharging points all over the country, just like gas stations, it would need to invest an additional $8 billion, according to UBS analyst Colin Langan in a new report.

The electric vehicle (EV) company led by Elon Musk would have to add 30,000 charging points to offer a similar availability as filling stations in the U.S. – each station comes at an estimated cost of $250,000, reports CNBC.

In his report, Langan argues that U.S. drivers currently have to drive an average of four minutes to reach their nearest gas station, while Tesla users would need an average of 31 minutes to find a Supercharger point. For Tesla to offer a similar availability it would have to invest more than $7.5 billion.

EV manufacturers and charging station providers are waiting to see if rumours of the Trump administration planning to build a national EV charging network, which would reduce the investment needed by Tesla and others, prove to have some truth.