Tesla (TSLA) Unveils Home Of Model S Production

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12:10:08 pm on October 28, 2010

Tesla (TSLA) has unveiled not only the only auto manufacturing plant in California, but the first plant dedicated solely to electric car production at the former NUMMI site which it purchased in May.  Called the “Tesla Factory” (catchy eh?), will be used to produce the all electric sedan, the Model S and possibly other electric vehicles.

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“This is a momentous day in Tesla history, turning our advanced electric vehicle technology into a mass manufacturing reality,” said Tesla CEO Elon Musk. “Model S is blazing a new trail for the industry and it will all happen right here — the Tesla Factory gives us plenty of room to grow.”

Shares of TSLA remain in an extremely tight range and continue to hold above key support of the 50 day moving average.  It’s unusual for a hot IPO like this to trade in a tight range for so long, but I think investors are confused about the prospects for this company and likely waiting for the next earnings report.  Traders of course are just waiting to see which way this consolidation breaks and will hop on for the ride.  The company reports earnings Nov 9th after the bell.

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