Breaking News Emails
A home battery? An electric motorcycle? A human teleporter? Tesla CEO Elon Musk set the Internet abuzz on Monday when he tweeted that the company will unveil a "major" new product next month, and it won’t be a car.
Musk didn't give any details, but he may have already provided the spoiler. In the company’s last quarterly earnings call in February, Musk indicated that Tesla was working on a home battery storage system that was almost ready for prime time. "We are going to unveil the Tesla home battery, the consumer battery that would be for use in people’s houses or businesses, fairly soon," Musk told analysts at the time. "We’re trying to figure out a date to have the product unveiling, but it’s probably in the next month or two months. And it's really great; I'm really excited about it."
Analysts at Global Equities Research said the new product is "very likely" related a stationary battery for residential consumers, CNBC reported. Tesla "has been testing residential stationary batteries in about 200-250 households in California for about last 2 years," GER said in a note Monday, according to CNBC.
Musk also tweeted Monday that he was optimistic about Tesla's long-term future in China.
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