Tesla Ready to Move Beyond Cars to Batteries With Next Big Product
Electric car company is widely believed to be unveiling batteries for the home.
— -- Tesla is gearing up to move beyond electric cars with the unveiling of a new product category -- widely believed to be batteries for homes and utilities -- expected to be announced Thursday.
The company has kept quiet about what to expect since CEO Elon Musk first tweeted about the mystery unveiling on March 30, however all signs point to batteries that could change the way homes and businesses are powered.
Karl Brauer, a senior analyst at Kelley Blue Book, told ABC News last month that Tesla's multi-billion dollar Gigafactory in Nevada to build lithium-ion batteries could be a key clue to the company's plans.
"We need the ability to store energy when it’s bountiful and use it when it isn't bountiful," Brauer said. "If somebody can come up with a system to time shift energy storage, that would have a lot of potential and go far beyond the automotive industry."
Tesla has previously said it has been working on a stationary battery.
It's also worth noting that Musk is chairman of SolarCity, a company that provides solar power to homes, schools and businesses.
The announcement is set for 8 p.m. PT on Thursday.