Tesla Motors Inc (TSLA)’s Solar Batteries: A Threat to Electricity Companies?

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Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk recently tweeted about an upcoming Tesla product that will be launched in the upcoming event. The tweet from CEO of electric car giant seems to have a direct effect on the markets, as Tesla is up by 2.7% at $189.98 this morning. An article on Barrons said that Tesla Motors Inc (NASDAQ:TSLA) CEO used his Twitter account quite often and the reason is now apparent. The article quoted an expert who thinks that Tesla’s new product will be personal stationary batteries. Tesla Motors Inc (NASDAQ:TSLA) has been testing stationary batteries in the US for 2 years. The source said that it is aware of 2 places where Tesla Motors Inc (NASDAQ:TSLA) personal batteries are practically installed and working.

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While the tweet from Tesla Motors Inc (NASDAQ:TSLA) CEO may seem mysterious, it is quite possible that Musk is talking about a product he revealed with detail a few months back in an interview to Bloomberg. Tesla Motors Inc (NASDAQ:TSLA) CEO said that the company is working on solar batteries which people would be able to use in their homes, businesses, offices and universities for various purposes. He also said that the design for this Tesla Motors Inc (NASDAQ:TSLA) battery is completed and it should be up and running in a few days.

If Tesla Motors Inc (NASDAQ:TSLA) launches a battery product, this would be a massive dent to the local utilities business because people are looking for smart and cost-effective options to go off the grid.

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