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Musk hints at automatic Tesla charger development

Tesla Model S
Scott Mlyn | CNBC

Tesla Motors has started to develop a charger that automatically connects to electric cars "like a solid metal snake," chief executive Elon Musk tweeted on Wednesday morning.

The company recently opened its first battery-swap station as it attempts to make charging more convenient. Musk, who has bet heavily on alternative energy, has endured a rough few months as Brent and WTI crude prices continue their slide, CNBC reported earlier this month.

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Tesla was trading about 1 percent higher above $220 a share on Wednesday afternoon. The company hit a 2014 peak above $280 a share in September.