How To Buy Tesla (TSLA) Stocks & Shares

August 23, 2024 06:29 PM AEST | By Team Kalkine Media

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How To Buy Tesla (TSLA) Stocks & Shares — Image source: shutterstock

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Tesla, Inc. is a prominent company specializing in the design, development, and manufacture of fully electric vehicles and energy solutions. The company also provides leasing options and related services.

Tesla's vehicle lineup includes the Model Y, Model 3, Model X, Model S, Cybertruck, Tesla Semi, and Tesla Roadster. In addition to its vehicles, Tesla installs and maintains energy systems, sells solar electricity, and offers comprehensive clean energy products for generation, storage, and consumption.

Tesla markets and sells its vehicles through a network of company-owned stores and showrooms. The company operates manufacturing facilities in the US, Germany, and China, and maintains a presence across Asia Pacific and Europe.

The company plans to introduce humanoid robots in its production facilities next year to handle repetitive and hazardous tasks.

Elon Musk is Tesla’s CEO. In 2022, he also became the owner and CEO of Twitter and continues as the founder, CEO, and chief engineer of SpaceX.

Buying Tesla Shares:

Foreign Exchange Fee: Purchasing US shares typically incurs a foreign exchange fee (around 1% of the trade) unless the transaction is funded from a US dollar account.

Transaction Fees: Brokerage fees for buying US shares may be higher than those for UK shares. Comparing fees across brokers is advisable if trading US shares regularly.

W-8BEN Form: Completing a W-8BEN form (valid for three years) allows for a reduced withholding tax rate on qualifying US dividends and interest, from 30% to 15%.

Currency Risk: Holding US shares exposes investors to foreign exchange risk. If the pound strengthens against the dollar, the value of the shares in sterling terms may decrease, and vice versa.

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