Elon Musk
| Tesla Motors may be more about batteries than electric cars in the next few years. The company is soon to announce a pair of new battery technologies: the Tesla home battery and a very large utility scale battery. |
Tesla Motors will announce a home battery and a “very large” utility-scale battery by the end of the month, according to an e-mail sent to investors and analysts.
The e-mail Tuesday from Jeffrey Evanson, Tesla’s head of investor relations, said the company “will explain the advantages of our solutions and why past battery options were not compelling.” Khobi Brooklyn, a Tesla spokeswoman, said that “we’ll share more information next week,” without confirming the e-mail.
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Major new Tesla product line -- not a car -- will be unveiled at our Hawthorne Design Studio on Thurs 8pm, April 30
— Elon Musk (@elonmusk) March 30, 2015"We are going to unveil the Tesla home battery, the consumer battery that would be for usein people’s houses or businesses." |
The electric car company is using its lithium-ion battery technology to position itself as a front-runner in the emerging market for energy storage that supplements, and may ultimately threaten, the traditional electric grid.
The company strategy was also outlined by Jeremy Welch, cofounder and CEO at Chrg, who claims Telsa Motors is really a battery company in aluminum clothing.
The move into energy storage ties in with Tesla's planned five billion dollar 'Gigafactory' being constructed in Nevada.
SolarCity where Musk is chairman, has installed Tesla batteries at 13 Wal-Mart Stores Inc. outlets in California recently.
SOURCE Bloomberg
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