The auto making giant has decided to launch batteries in Australia in a period of a few months
Tesla Motors is currently planning to make a massive launch of its batteries in Australia, as per the latest news on the electric car makers. The firm is launching ‘Tesla Energy’ through which it will be working on providing energy batteries to the industry, as stated in a report published by The Sydney Morning Herald. The storage wing of the auto making giant has recently been launched for the purpose of making high end batteries that are provided to homes and cars both.
The international Herald has informed its readers that the firm is planning to introduce batteries in the Australian region in the start of the upcoming year. Analysts, on the other hand, believe that the hybrid car makers are looking for a chance to make use of the increasing demand of storage of power in the region by taking such a step.
Tesla Motors has been selling its luxury cars in the United States for some years now. As for the battery making business, the firm is looking towards expanding its business to more countries as well which includes Australia and Germany. For the present time, the firm is looking towards introducing its batteries only to these countries and not its cars. Morgan Stanley analysts ran a research on the capabilities the Australian market has and it emerged as a fact that country has a growing energy industry which has the potential to become worth $25 billion in the upcoming days.
Since Australia has a lot of exposure to the sun, it has been noted that there are a lot of other companies as well which are looking towards using that energy into making something productive like solar energy cells. Companies like LG CHEM and Panasonic have also shown quite a lot of interest in getting into the business in the region where they can make use of the sun and provide energy batteries to the people living there who seem to demanding energy storage more and more every day.
According to analysts, it is being said that since Australia has considerable amount of sun exposure and low production costs, it is very likely that smart energy producers think about entering the industry. In the same way, news suggests that LG Chem will also be introducing its batteries in the region in few weeks only with aims as high as of obtaining around 30 percent part in the energy industry. The firm has also predicted that the potential it is seeing in the industry shows that a growth of more than 15 times more is expected to be seen in the coming three years if everything goes according to plan.