Elon Musk Says Powerwall V2.0 Is Coming

Tesla Motors Inc TSLA CEO Elon Musk has publicly stated that a second version of Powerwall will soon be available, according to The Verge.

Powered by solar energy and capable of storing the energy for emergency backup use, the Powerwall is rechargeable battery Tesla initially revealed in 2015. While the original offering was limited, pre-orders have piled in – to the tune of 38,000.

Last week at a talk in Paris, Musk disclosed, "We'll be coming out with version two of the Powerwall probably around July, August this year, which will see further step change in capabilities."

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Regarding the success of the Powerwall, Musk stated, "We've got the Tesla Powerwall and Powerpack, which we have a lot of trials underway right now around the world. We've seen good results."

Other Big Things Ahead For Tesla

In addition to Powerwall V2.0, Tesla has a few other big projects on the horizon. The Gigafactory is slated to deliver batteries that exceed the capabilities of the current ones Panasonic delivers to the company. Additionally, chatter has been circulating about an expansion in China in the coming months or years.

At the time of this writing, Tesla was seen trading down 4.13 percent at $188.80.