Following Tesla’s first-quarter earnings report on Wednesday, CEO Elon Musk and other executive held a conference call with analysts.
You wouldn’t have known you were listing to a call about a car company.
Tesla unveiled a new suite of home and utility-scale batteries on April 30, “Tesla Energy,” and that was pretty much all anyone wanted to talk about.
I’ve never heard the word “inverter” used so often on a Tesla earnings call!
Musk said that initial demand for the so-called Powerwall, the smaller home battery; and for the larger system, the Powerpack, is “off the hook.”
“There’s no way we could satisfy demand this year,” he said.
He later said that demand for the new products is “nutty.”
What’s really stunning here is that that in the span of about a week, the focus has dramatically shifted from Tesla the car company to Tesla the energy services provider.
Honestly, it was a lot more exciting when we were talking about cars!
To his credit, Musk did note that going forward, Tesla will continue to concentrate on building vehicles before trying to figure out whether the batteries should go into Tesla Energy products.
And he said that we’ll finally get a look at Tesla mass-market vehicle, the Model 3, in March of 2016.