Tesla Stock: This Is What’s Driving Elon Musk Crazy

Tesla stockElon Musk’s Next Venture After Tesla Motors Inc (TSLA Stock)

Tesla Motors Inc (NASDAQ:TSLA) is busy meeting its deliveries for the year 2016. But Tesla CEO Elon Musk has found another problem that needs to be solved fast, as it is driving him nuts. Tesla stock has gained little strength after Donald Trump invited Elon Musk to his tech meet last week and also made him a part of his advisory council.

Elon Musk is planning to start his next venture called “The Boring Company.”

This is the series of tweets that he posted early Saturday morning:

He also penned a tagline for the company—“Boring, it’s what we do”—and added that “I am actually going to do this.”

He seems to be pretty serious about this tunnel digging venture. As reported in the media, Elon Musk had floated the idea in the past of digging tunnels under highways to reduce traffic—an idea he had while sitting in Los Angeles traffic.

In January 2016, Musk mentioned it during SpaceX’s “Hyperloop” pod design competition: “It’s really simple and obvious idea and I wish more people would do it: build more tunnels. Tunnels are great. It’s just a hole in the ground, it’s not that hard.” (Source: “Elon Musk is apparently serious about launching a tunnel digging company to reduce traffic in cities,” Electrek, December 17, 2016.)

Now that he has joined the advisory team of Donald Trump, who plans to invest big in infrastructure, maybe Elon Musk thinks that the time is ripe for such a venture. However, it might be a little too much for Tesla investors to handle as they are still coming to terms with Tesla’s transition to an energy company. The losing streak of TSLA stock came to a halt Friday as it gained about 2.5%.

Only time can tell how serious Elon Musk is about this, but meanwhile, Tesla has proposed a solution to a problem that Tesla owners had been facing for quite some time. It was noticed that many Tesla owners were using “Supercharger” stalls as parking spaces and not moving their cars after they had been fully charged. The company said that it plans to charge a fee to such Supercharger abusers.

Tackling Supercharger Abuse

Tesla said that the Supercharger network was designed to enable a seamless, enjoyable road trip experience. Therefore, it can be frustrating to arrive at a station only to discover fully charged Tesla cars occupying all the spots. To create a better experience for all owners, Tesla is introducing a fleet-wide fee that aims to increase Supercharger availability. (Source: “Improving Supercharger Availability,” Tesla Motors Inc, December 16, 2016.)

For every additional minute a car remains connected to the Supercharger, it will incur a $0.40 idle fee. If the car is moved within five minutes, the fee will be waived.

The company’s focus on its customers is good for TSLA stock. It remains to be seen how well it works to stop the Supercharger abuse. As the company works on expanding its Supercharger network, it is important that these issues are handled at the earliest. Tesla stock needs minimum problems right now as the company prepares to roll out the “Model 3.”