Katie Fehrenbacher of Fortune reports on Tesla's new grid batteries being produced at its heralded Gigafactory, a little ahead of schedule.The batteries, called Powerpack and Powerwall, were introduced earlier this year and pre-orders indicated high demand: There's already $1 billion worth in orders, according to the company, and they are already sold out for 2016.
Beyond next year, the business could reach “a few billion dollars in 2017,” Musk said earlier this year. “It’s sort of growing by a half order of magnitude to an order of magnitude per year.”
Previously Musk has estimated that just the grid battery orders could deliver between $40 million to $45 million in sales for the fourth quarter of this year. Sales for the battery business could be “ten times that number next year” — or presumably $400 million to $450 million in a quarter — after that.
Discover more information about grid batteries at Fortune: