US-based electric car company Tesla Motors has announced that the company would unveil a major non-car product by the end of April, which has created quite a stir in its stock trade.
The futuristic company has been finding its stocks getting prime importance thanks to its potential than the actual business valuation of it. But this recent announcement over Twitter by its CEO Elon Musk has garnered a lot of attention. He had earlier hinted that the company is preparing a new battery system that can be used to power homes. It already is in the solar energy business and makes domestic solar energy storage units for SolarCity Corp. The popular guess is that the product launch would be associated with the company’s interests in the energy segment.
Tesla’s high stake ambitions are not limited to solar energy. Musk had also announced the company’s plans for the world’s biggest lithium-ion manufacturing and reprocessing plant. Called as Tesla gigafactory, the model plant is being constructed in Reno, Nevada and Tesla hopes to duplicate the factory across many other parts of the world. There are a lot of rumors about the company looking for a site in Japan as well. Though the company found an amiable partner in Panasonic Inc for its Nevada factory, it has not found enough success in scouting for partners in Japan. Having said that, Japan could be the country of choice for Tesla as it is the second largest source of parts for its Model S Sedan range.
Other plans in the kitty for the company this year includes bringing out Model X crossover SUV, the launch of its first mainstream ‘affordable’ model in the form of the as-yet unrevealed 2018 Tesla Model.
With more such models in its hangar, Tesla is looking to increase its production of lithium ion batteries and also increase revenue in the short term to impress partners for its gigafactory. The unrevealed 2018 affordable model is estimated to be a $35,000 car. To make that price viable, Tesla needs to bring down the cost of production of Lithium Ion batteries, the main component in the company’s electric cars.
Even while ambitious projects are many for Tesla, it is still reeling under pressure from the market which is not yet completely ready for a change. Range Anxiety, the fear of running down on power while on the move, is one of the factors that act as a deterrent for potential electric car converts. The company needs to invest in increasing quite substantially the number of charging stations. Even in the Chinese market, which is one of the company’s highest grossing locations worldwide, hopes of bigger sales are uncertain. Though the proportion of wealthy customers are promising and the record air pollution in China is compelling the creamy layer to convert to electric cars, Tesla still needs to boost its salesforce in the market.
The futuristic company has been finding its stocks getting prime importance thanks to its potential than the actual business valuation of it. But this recent announcement over Twitter by its CEO Elon Musk has garnered a lot of attention. He had earlier hinted that the company is preparing a new battery system that can be used to power homes. It already is in the solar energy business and makes domestic solar energy storage units for SolarCity Corp. The popular guess is that the product launch would be associated with the company’s interests in the energy segment.
Tesla’s high stake ambitions are not limited to solar energy. Musk had also announced the company’s plans for the world’s biggest lithium-ion manufacturing and reprocessing plant. Called as Tesla gigafactory, the model plant is being constructed in Reno, Nevada and Tesla hopes to duplicate the factory across many other parts of the world. There are a lot of rumors about the company looking for a site in Japan as well. Though the company found an amiable partner in Panasonic Inc for its Nevada factory, it has not found enough success in scouting for partners in Japan. Having said that, Japan could be the country of choice for Tesla as it is the second largest source of parts for its Model S Sedan range.
Other plans in the kitty for the company this year includes bringing out Model X crossover SUV, the launch of its first mainstream ‘affordable’ model in the form of the as-yet unrevealed 2018 Tesla Model.
With more such models in its hangar, Tesla is looking to increase its production of lithium ion batteries and also increase revenue in the short term to impress partners for its gigafactory. The unrevealed 2018 affordable model is estimated to be a $35,000 car. To make that price viable, Tesla needs to bring down the cost of production of Lithium Ion batteries, the main component in the company’s electric cars.
Even while ambitious projects are many for Tesla, it is still reeling under pressure from the market which is not yet completely ready for a change. Range Anxiety, the fear of running down on power while on the move, is one of the factors that act as a deterrent for potential electric car converts. The company needs to invest in increasing quite substantially the number of charging stations. Even in the Chinese market, which is one of the company’s highest grossing locations worldwide, hopes of bigger sales are uncertain. Though the proportion of wealthy customers are promising and the record air pollution in China is compelling the creamy layer to convert to electric cars, Tesla still needs to boost its salesforce in the market.
