November 22, 2016 - By Ruchi Gupta · 0 Comments
Tesla Motors Inc (NASDAQ:TSLA) is refurbishing its business. It will not only deal with cars, but it will also incorporate retail locations that will focus more on the energy side. So don’t be surprised about the trending of Tesla ramps up stores. The maker of electric vehicles will be showcasing the rechargeable Powerwall home battery. They will also install new graphics before exploring how the energy products work
The move by Tesla comes at a time when the market is growing in demand for energy products. It is also very crucial for the company given that it has been eying various strategies, the likes of acquisition of SolarCity. The deal worth about $2 billion has officially been closed after being approved by shareholders.
Naturally, the Tesla ramps up stores move is not in vain whether the company chooses to let out the details or not. Of the point is that the inclusion of energy products into the market will take away the traditional dealership model. The home batteries will be available in the European and North America markets and particularly in California, Hawaii, the U.K. and Australian store. However, despite the limited locations of availability the markets have shown high demand. Thus there is a likelihood of Tesla’s expansion to more areas. Nonetheless, consumers can make an online order.
Apparently, the automaker has been battling with state governments in its search for an opportunity to sell vehicles directly to consumers instead of dealing with an authorized dealership network.
The acquiring of SolarCity by Tesla was aimed at facilitating the building of solar shingles, an activity that was first unveiled at a company event in late October. But while the solar shingles may have received so much attention Tesla’s CEO Elon Musk says that the firm’s Powerwall is also very powerful. It has been redesigned to adopt a thinner and more rectangular look.
However, while Tesla’s shingles are expected to be priced competitively, the batteries will also have their share of the cost. Tesla says that the batteries will cost $6,500, which includes $1,000 installation cost.
Tesla’s stock closed at $184.52 a decline of $0.50 or 0.27%.
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By Ruchi Gupta