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Updated 11:29 AM EDT, Tue, Jun 16, 2020

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Tesla to Produce a 'Home Battery' for Residential Homes

Musk

Tesla CEO Elon Musk

Tesla Motor founder and CEO Elon Musk said Tesla has designed a Tesla "home battery" that will go into production this summer. Musk said the battery will be unveiled "soon".

While Musk didn't reveal the exact use for the huge battery, speculation is the battery might be used as a generator during a power outage. Tech analysts said the fuel cell in the Toyota Mirai hydrogen fuel cell sedan has been used to power homes and has enough power to power a home for a week.

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They also believe it's likely Tesla will build on the power packs used in Tesla's range of electric sedans such as the Model S.

"We are going to unveil the Tesla home battery, the consumer battery that would be for use in people's houses or businesses fairly soon", Musk said. "We have the design done, and it should start going into production in about six months or so".

There haven't been any pictures or images of the battery.

In 2014, Tesla Motors revealed plans for a $5 billion "Gigafactory" designed to help the firm increase production of batteries for its electric cars and now homes.

Tesla said the factory will slash current battery production costs by up to 30 percent. The factory will be mostly powered by renewable energy sources such as solar and wind.

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