Tesla Buys 35 Acres for Test Track in Fremont

With business booming, all-electric carmaker Tesla has now purchased 35 acres of land near its Warm Springs plant for a road test track, according to media reports. 

According to the Silicon Valley Business Journal, the land was purchased from Union Pacific Railroad and is located just south of the plant near the Mission Boulevard and Union Pacific rail line intersection.

The land already includes half of a test track from New United Motor Manufacturing Inc., who previously owned the property, the Silicon Valley Business Journal reports.

The new test track will come in handy, as Tesla recently announced plans to double its production to 800 of its popular Model S luxury sedans per week by 2014.

The recent land purchase and ambitious are just some of the latest in a string of news for the innovative carmaker this week.

Sales and interest in the stylish Model S have increased, boosting the company’s stock to its all-time high of $133 a share earlier this week — up from $33 a share at the start of the year, according to CNN Money.

With all eyes on Tesla, Bloomberg News featured the company on the Bloomberg BusinessWeek cover story, “Why Everyone Loves Tesla,” and dubbed the company’s visionary leader, billionaire Elon Musk, the new Henry Ford.

Tesla is even giving General Motors a run for its money.

According to CNET, General Motors has established a team to study Tesla for fear of competition.