Tesla is set to unveil a new non-car product line at the end of this month, with speculation rife that the new product will be a home battery.
Tesla founder and CEO Elon Musk set the speculation off with a tweet that said the unveil of the new product line would be on April 30.
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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,” Musk tweeted.
The Tweet caused Tesla’s stock price to jump and triggered speculation on what the new product could be. Much of that speculation centres on the possibility of a battery that will store electricity for domestic household or business use.
Tesla is known to have been working on such an application using the technology that the company has developed for its electric cars.
Home batteries could find customers in areas where power outages are common and there is also the possibility of the electricity for them being generated by renewable energy sources such as solar. It may also be possible to hook up the domestic battery to charge the Tesla car’s battery.
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By GlobalData
