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Tesla to Develop its Largest Power Storage System in Asia

Tesla said it managed to install all the hardware in only two days

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Visitors inspect Tesla electric cars at Brussels Motor Show, Belgium, Jan. 18, 2019. VOA

In a bid to reduce energy demand and provide emergency backup power to trains in Japan, Tesla has claimed to develop its largest power storage system in Asia.

According to Tesla, it has installed a bank of 42 Powerpacks at a train station in Japan’s Osaka that can provide sufficient backup power to safely move a train and its passengers to the nearest station in the event of a power outage.

“In the event of a grid outage, this Osaka Powerpack installation is designed to provide emergency backup power to safely move a train and its passengers to the nearest station,” Tesla tweeted.

The 42 Powerpack battery system will also help reduce energy demand on the Osaka grid during peak hours,” the tech major added.

Tesla CEO Elon musk, board
Tesla CEO Elon Musk. (VOA)

According to reports, Tesla said the 7 megawatt-hours (MWh) system is its largest energy storage project in Asia, and the fourth largest in the greater Asia-Pacific (APAC) region.

Launched in partnership with Kintetsu, a railway operator in Japan’s Osaka, the new Tesla Powerpack system is a fully integrated, AC-connected energy storage system that can connect to a building or utility network. The system contains 16 individual battery pods, each with an isolated DC-DC converter.

Also Read- The Challenges Ahead of Pramod Sawant, The New Chief Minister of Goa

Tesla said it managed to install all the hardware in only two days. (IANS)

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Musk-run Tesla Hits $100-bn Market Value for the First Time

In the third quarter, automotive revenues were $5.35 billion. Tesla said it expected to deliver between 360,000 and 400,000 vehicles this year, representing 45-65 per cent growth

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Elon Musk, a technology entrepreneur. Pixabay

Signalling an all-electric future is coming our way, Elon Musk-run Tesla has hit the $100 billion in stock market valuation for the first time.

Tesla shares were last up 1.4 per cent at $555 after trading was closed on Tuesday, reports CNBC.

The milestone came less than a month after Tesla’s stock crossed $420 — a price Musk tweeted last year which put him in much trouble.

The $100 billion valuation must stay for both one-month and six-month average in order to help Musk get first of 12 tranches of $346 million in a record-breaking pay package.

Tesla is currently valued more than Ford Motor and General Motors combined.

Tesla logo
A Tesla logo is seen in Los Angeles, California. VOA

Musk lost his position as Tesla Chairman after posting a notorious tweet in August last year that he was “considering taking Tesla private at $420. Funding secured”.

The US Securities and Exchange Commission (SEC) sued Musk over the tweet, saying he misled investors by claiming falsely he had lined up funding for the take-private transaction.

Musk reached a settlement with the SEC, agreeing to give up his role as Tesla Chairman and pay a $20 million fine.

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Tesla surprised Wall Street in October by registering a profitable third quarter with a total revenue of $6.3 billion riding on sales of its Model S, Model X and Model 3 electric cars.

In the third quarter, automotive revenues were $5.35 billion. Tesla said it expected to deliver between 360,000 and 400,000 vehicles this year, representing 45-65 per cent growth. (IANS)