Tesla to face tough competition with UET entering the industry with its storage products.
Tesla Motors Inc. is an electric car giant that is one of the prominent automotive brands in United States but since a relatively short span of time, the company is establishing its position as ann energy storage brand. The company recently diversified its portfolio and unveiled a diversified range of lithium ion storage products that can be used for powering household and commercial buildings. At the same time, the company is spending a substantial amount on establishing its first Gigafactory in Nevada.
However at this point the company now has competition at stake since a new startup namely UniEnergy Technologies (UET) powered by a group of scientists and engineers is gearing up to give a tough time. This startup has the backing of United States Energy Department. Thus, the Tesla Powerpack has a strong competitor ready to enter its domain. As reported by Clean Technica, the new company is likely to come up with products that have minute manufacturing costs and better life span.
According to the green energy website, the breakthrough of UET is part and parcel of a smart grid energy storage project situated in the state of Washington that is designed in a manner to consume wind energy resources within the state efficiently.
It needs to be noted here that Tesla’s move to enter the energy storage industry makes certain analysts believe that they could literally supersede the growth of electric cars. However, this has also acquired mix reviews where opinion is at times poles apart. Moreover, those analysts who are skeptical about this venture of Tesla Motors believe that this initiative might have the negligible potential for the firm.
Tesla at this point needs to take several existing and emerging competitors into consideration and if they do not do so then they might just get suppressed.
UET at this point has made several claims regarding its products and if they all are factually true then Tesla might not just be a real rival to them. However, the chief executive officer of Tesla, Mr. Elon Musk holds a relatively different opinion where he claims that his products offer more value than any other competitor in the market.
According to a press release issued by the chief executive officer of UET, “UET is not shy to say it has the best grid-scale energy storage solution at the best-Levelized cost, maximizing value for the customer.”
Hence, Tesla needs to understand that it is not as easy as they might consider it to be and adequate steps to sustain need to be taken.
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