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Investment Analyst Previews Tesla's Major Announcement

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Global Equities Research's Trip Chowdhry previewed Tesla Motors Inc (NASDAQ: TSLA)'s Thursday announcement in The Guardian, noting that he has spoken with a number of Tesla's customers last year. According to Chowdhry, the system will offer 10 and 15 kwh configurations and cost around $13,000.

At Pacific Gas & Electric, customers can get a 50 percent rebate for using the system or finance it by paying $1,500 per unit and $15 per month for 10 years, at which point the battery is returned to SolarCity Corp (NASDAQ: SCTY). The units are made of lithium ion cells, which will be built in the $5 billion Gigafactory. The Gigafactory is set to open in 2017.

Related Link: What 2 Street Firms Think About Tesla's Big Announcement

The battery systems can reportedly be powered during times of low electricity prices – typically during the day – and used when prices and demand are higher.

Chowdhry forecasted the corporate market for Tesla's batteries is huge, noting that Google Inc (NASDAQ: GOOG) and Apple Inc. (NASDAQ: AAPL) installed Tesla's backup systems at their corporate campuses. According to a Bloomberg report last week, Wal-Mart Stores, Inc. (NYSE: WMT) is also considering using the battery system.

Shares of Tesla recently traded at $233.91, up 7 percent.

Latest Ratings for TSLA

DateFirmActionFromTo
Dec 2019MaintainsEqual-Weight
Dec 2019MaintainsSell
Dec 2019MaintainsOverweight

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Posted-In: Gigafactory Global Equities Research tesla motors Trip ChowdhryAnalyst Color Analyst Ratings Movers

 

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