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April 22, 2015

Tesla to foray into home market with new battery line

Pilot programme underway in California.

By CBR Staff Writer

Tesla is planning to introduce a new product line, which will include a home battery and a ‘very large’ utility-scale battery, on 30 April.

In an email sent to investors, Tesla vice-president of investor relations Jeff Evanson said: "We will introduce the Tesla home battery and a very large utility scale battery. We will explain the advantages of our solutions and why past battery options were not compelling."

The move does not come as a surprise, as previously the company CEO Elon Musk hinted on Tesla’s plans to extend its lithium-ion battery technology to home-energy market.

In February this year, Musk said that the company is planning to launch consumer battery to be used in people’s houses or businesses, and highlighted that the designing phase was complete with launch anticipated in August 2015.

According to Bloomberg, Tesla is testing the batteries in California, by installing them in 300 homes, and Wal-Mart stores. Food company Cargill is also reported to have shown interest in them.

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