Germany Plans Stronger Push of EV Ecosystem Expansion (TSLA)

Tesla (Nasdaq: TSLA) and other electric vehicle (EV) makers are on watch Monday following reports that Europe's largest market is making a stronger push for consumer demand of the vehicles.

According to Reuters, Germany will expand its network of changing stations over the next several years. Chancellor Angela Merkel is aiming to have over 1 million EVs on the road within the next decade, from a recent count of 24,000.

Germany currently has about 100 quick-service charging points and 4,800 charging stations.

Tank & Rast GmbH is expected to install quick-service charging stations at its 400 locations by 2017.

Shares of Tesla are down in early trading Monday.

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