Telsa Motors announced that it intends to offer, subject to market and other conditions, $500 million of additional shares of common stock in an underwritten registered public offering.
Elon Musk, Tesla's CEO, intends to purchase $20 million of common stock in this offering at the public offering price.
Tesla intends to use the net proceeds from this offering to accelerate the growth of its business in the United States and internationally, including the growth of its stores, service centers, Supercharger network and the Tesla Energy business, and for the development and production of Model 3, the development of the Tesla Gigafactory, and other general corporate purposes.
Analysts had predicted batteries might reach the $350 point in 2020. However, Tesla announced the new battery prices May, 2015.
At Tesla’s price, utility-scale batteries have the potential to perform better than 2 cents per kilowatt hour where it counts the most: on the customer’s electric bill.
Zachary Shahan at Cleantechnica had a chart with some comparisons of possible near term utility scale battery product prices.
However, Ramez Naam estimates the Powerpack’s cost per kWh will be 7¢.
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Reposted via Next Big Future
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