The most well-known company in the electric vehicle space could be entering the restaurant sector.
What Happened: Tesla Inc (NASDAQ: TSLA) last week filed trademarks for its brand name under the restaurant services sector, according to Electrek.
“Tesla trademark registration is intended to cover the categories of restaurant services, pop-up restaurant services, self-service restaurant services, take-out restaurant services.”
Three trademarks were filed for the Tesla name, the Tesla T logo and a new stylized logo of the Tesla name.
Tesla and CEO Elon Musk have hinted at restaurant plans before. In 2018, Musk said he planned to open drive-in restaurants at Tesla Supercharger stations in California.
In April 2021, Musk responded to long wait times at Supercharger locations with this:
This content is not available due to your privacy preferences.Update your settings here to see it.
Related Link: Why Tesla's Charging Stations Are A Key Advantage For Its Future
Why It’s Important: Tesla has over 25,000 global charging stations. The stations offer a 15-minute recharge for around 200 miles of driving range.
People who go to a charging station have to wait around while their vehicle charges.
Tesla could monetize this time by offering food in a restaurant setting. The current trademark filings suggest a Tesla-branded restaurant.
The play here could be for Tesla to partner with existing restaurant companies and build smaller footprint locations at the Supercharging stations, similar to fast-food restaurants inside gas stations and travel centers.
Tesla has become a cult brand and could attract a wide following of people that eat at its restaurants while charging their vehicles. Fans of Tesla could also make trips just to experience the Tesla restaurants.
If Tesla decides to partner with restaurants, it could receive royalty revenue from the restaurants and attract a lineup of restaurants that would love the extra business.
See more from Benzinga
Click here for options trades from Benzinga
Follow Friday: 8 Dogecoin Accounts To Follow On Twitter
8 SPAC Trade Ideas From Benzinga's 'SPACs Attack' Hosts
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.