Tesla (TSLA) motors reveals fourth quarter report, full of bad surprises as they also start hiring staff for their new stationary storage unit for manufacturing battery packs. It was reported that, Tesla is planning to start battery packs for homes, businesses and utilities.
It was reported that, Tesla`s prototype SUV had suffered multiple delays. Motor industry experts also said that the plummeting oil prices also hurt the company. A recent market survey suggested, the weakening oil prices also made electrical cars less wanted by consumers. Market analysts have also suggested that Tesla`s stocks are overpriced by 70 percent. According to the analysts Tesla`s sales figures are below par and their cost is going up as their CEO Elon Musk wants to build a new manufacturing unit for batteries.
According to the analysts, Tesla`s current value of $25 billion is 219 times to its estimated earnings for 2015. In a recent statement Tesla CEO Elon Musk said, Tesla Motors Inc. might become profitable by 2020 when annual sales reach 500,000. He also suggested that the company will have a 50 percent annual revenue growth for a decade every year. Market analysts said, to achieve these goals there has to be an absolute disruption in the gasoline car market.
It was also reported that, Musk wants to spent $1.5 billion this year to take the company forward. In a recent statement Musk said, “We’re going to spend staggering amounts of money”, as the battery factory is going to cost $5 billion. It was also reported that the company had already spent $110 million on the project which expected to be operational in six months. Market experts said, to achieve the target, Tesla has to manufacture 10 times more cars than their current level for the next five years.
It was reported last month that Tesla wants to enter the home battery segment. The company already offers energy storage to the consumer of SolarCity Corporation. It was also reported that Tesla are in talks with Texas based energy giant Oncor Electric Delivery about a stationary battery storage project which is going to need an investment worth $2 billion.
