After car-maker Tesla’s first quarter earnings report on Wednesday, CEO Elon Mush held a conference call with analysts, but you wouldn’t have guessed you were listening to a call about a car company.
Tesla Energy’s Powerwall batteries
Tesla recently unveiled a new set of home and industrial-scale batteries on April 30th, “Tesla Energy”, and that was the main focus of the call.
Musk said that initial demand for the company’s Powerwall, the smaller version of the home battery, and for the larger Powerpack, is “off the hook”.
“There is no way we could satisfy demand this year”, he said, before adding that demand for the new products is “nutty”. The product is apparently already sold out until midway through 2016.
What is amazing is that in the space of about a week, the whole industry has shifted from talking about Tesla the car company to Tesla the energy services provider. Some may say it was a lot more exciting though when they were just talking about cars!
Musk did note that going forward, the company will mainly focus on building vehicles before attempting to figure out whether the batteries should go into Tesla Energy products.
He also said that we’ll finally get to look at Tesla’s mass-market vehicle, the Model 3, in March 2016.