Tesla is popping after releasing its next generation of Superchargers

Tesla is surging higher after announcing the next generation of its Superchargers, aimed at dense cities.

Shares are trading up 5.06% at $US360.76 on Monday as the company addresses concerns city dwellers have with their vehicles. Owning a garage is a rarity in large urban centres, so an overnight charge might be hard to come by for many. The electric car maker is rolling out new chargers in Boston and Chicago.

“Supercharger stations in urban areas will be installed in convenient locations, including supermarkets, shopping centres and downtown districts, so it’s easy for customers to charge their car in the time it takes to grocery shop or run errands,” Tesla said in a press release.

The new chargers will reportedly charge a Tesla in just 45 to 50 minutes and offer a new design that is slimmer than older models already situated along the nation’s highways.

Tesla also announced it released a software updated to increase the range of its vehicles that were in areas affected by the Hurricane Irma. New Tesla vehicles usually require their owners to purchase the full range of their batteries through as an extra option, but the company unlocked the full range to allow customers the ability to better escape the coming storm.

Tesla shares are up 67.92% this year, including Monday’s bump.

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