Elon Musk's Tesla set to unveil home storage battery

'Leccy car bods are still bleeding cash, mind

Elon Musk's electric car company Tesla is about to unveil a home storage battery that could compete with the electricity companies as a power source, he said in an earnings call.

Musk said yesterday the company has completed the design of the battery.

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

He said the product will probably be unveiled in the next month.

"It is really great, I am really excited about it."

Chief technology officer JB Straubel also said the company was in the process of talking to a number of utility companies. “This is a business that is gaining an increasing amount of our attention," he said.

During the earnings call the company revealed it made a loss of $108m (£71m) in its fourth quarter, blaming poor sales in China. ®

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