In an article on Bloomberg, it was reported that Tesla Motors Inc (NASDAQ:TSLA) is working on efficient batteries that will deplete the greenhouse effect in our climate. Greenhouse gases are the major cause of global warming because they trap the heat of the environment and does not let it go upwards. Tesla Motors Inc (NASDAQ:TSLA) is building its new Gigafactory in Reno, Nevada. The factory will produce batteries that will be charged from natural energy sources like Solar Panels. The solar panels will be charged and then they will charge the batteries in turn. Tesla Motors Inc (NASDAQ:TSLA) has big plans to make green, efficient and cost effective cars in the future but the source claims that this plan is scary for electric companies.
Utilities business is facing immense pressure worldwide because of the global tilt towards renewable energy sources. People are taking electricity as a major source of cost consumption. Solar energy is the future and Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk has tapped the right area. His company is already packaging thousands of batteries and solar panels in order to power big stores including Walmart. The source reported that around 40% of the plugin cars have been sold out in California and people want to opt for solar energy charging and green cars.
Tesla Motors Inc (NASDAQ:TSLA) is investing heavily on batteries and solar charging. The company has installed 135 fast charging stations in North America. It has also struck a deal with a company Oncor Electric Delivery. Tesla Motors Inc (NASDAQ:TSLA) is investing around $2 billion to mine out the problems related to fast charging, solar and wind energy consumption in cars.