Tesla and Southern Co. join hands to work on the testing of electric batteries.
Tesla Motors Inc. grants permission to Southern Co. the Atlanta-based electric firm to govern tests on their utility scale battery division, dubbed as Powerpack. Thomas A. Fanning, the chairman, President and chief executive officer announced about the collaboration between the two firms during the company’s stockholders annual meeting.
"At the foundation of Southern Company is our ability to develop real, innovative solutions to shape America's energy future," stated Mr. Fanning in the press release of the firm. The Southern Co. at this point of time wants to make its inventive culture relatively strong by establishing new partnerships that will allow them to strengthen their portfolio. According to him, if the company involves in such practices then it will help them to cater to the evolving energy needs of consumers.
Under this collaboration it has been agreed between Tesla Motors- the electric car giant and Southern Co will work towards exploring the possible implication of TSLA Electric batteries to cater to the electric needs of consumers along with efforts to minimize the hazardous implications of carbon emissions.
The company so far has created the right amount of anticipation that will assist them in luring customers towards their battery products. Only in its debut week, Tesla has been successful in gaining 3,800 preorders and 2500 reservations for Powerpack. So by the mid of next year, this continues to happen on the same pace than the company will be soon sold out for its battery products considering the production capacity of the company at this time.
According to the data compiled by Bloomberg, these preorders almost worth around $800 million for the firm. So if customers do not back off then the company will have a stable flow of revenues eventually.
According to several economists, the batteries manufactured by Tesla will be providing solutions to the climatic changes, allowing individuals to go completely out of the grid in the times to come. The aim of Elon Musk- the chief executive officer of the firm is to make energy efficient and cheaper for the masses. These batteries can be helpful in saving the energy that is obtained from green sources such as solar and wind power and ensure a steady energy supply since the energy that is obtained from other sources has several fluctuations.
Hence, in a nutshell, Tesla Motors and Southern Co. are in the right direction because electric batteries are the need of time. If Tesla lures so many orders for Powerpack then their future will be relatively stable.
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