It was reported that Mr. Musk didn’t disclose any further details, but the announcement seemed to be about Tesla’s Autopilot 2.0 rollout, including the new advanced features relative with the upgrade. The Tesla Powerwall – a home battery solution that generates rechargeable electricity from PV panels – was rolled out into United Kingdom markets earlier this year. A 100-kilowatt battery increases the range to an estimated 507km by United States regulatory standards, or 613km by a European Union standard, making it the first electric production vehicle to break the 483km barrier, according to Tesla.
Advertisement
Tesla’s aim in merging with SolarCity was to combine the two firms’ expertise in storage and solar to create an integrated, domestic solar PV and battery storage solution to generate and store home-brewed power to tesla owners at an upfront cost. The solar panels and the vehicle might be able to be sold as a complete package in the same way Tesla chargers are sold with the cars now. This is considered impressive, since other electric cars, especially those with big batteries, require longer periods of charging. This is because the Model 3 will be affordable to own and it will also be able to offer an EV range that is more than 200 miles.
The news about Volkswagen’s all-electric auto comes days after Tesla introduced its new Model S P100D with Ludicrous mode, which is being compared to the likes of LaFerrari and the Porsche 918 Spyder when it comes to fast production by acceleration.
Advertisement
Tesla Powerwall. Image source: Tesla Motors. The Company uses battery packs manufactured at the Gigafactory for its energy storage products. Tesla gained almost 400,000 reservations for its Model 3 in a single week. The Market Capitalization of the company stands at 33.21 Billion. It sells its vehicles through its own sales and service network. The company reached the top of the Forbes Most Innovative companies list in 2015 and maintains its #1 position for the 2016 ranking. “It is the roof”, Tesla’s CEO Elon Musk said in a statement. It’s also unclear when the company will eventually be profitable. This high magnitude kind of research and investments by Ford Motors is meant to deliver cars that are more reliable, convenient and safer in future. The termination fee owed to Tesla will be $26.1 million.
