PALO ALTO (KCBS) – Tesla shares (TSLA) are getting a charge from a Bloomberg report that the company will unveil a home battery and a large-scale utility battery, at an event at its Hawthorne design studio next week.
Bloomberg got a hold of an email from Tesla’s investor-relations chief saying the company will explain the benefits of Tesla’s solutions compared to battery options in the past.READ MORE: San Leandro Community Rallies for Reform on Anniversary of Steven Taylor's Police Shooting Death
There has been speculation that Tesla will look to challenge the traditional utility power grid with home and utility batteries, and a research note from Deutsche Bank says Tesla could be at the forefront of an energy storage market that could triple to six billion dollars in sales by 2020.READ MORE: Lodi Parachute Center Skydiver Dies After Chute Gets Tangled on Descent
There is some speculation that this is the product Musk was hinting at when he Tweeted late last month that the company would be unveiling “not a car” on April 30th.MORE NEWS: 18-Year-Old Driver Dies, 3 Teen Passengers Injured in Saturday-Night Crash Near Davis
TSLA was up more than 5% on the report.