Tesla Solar City technology only works best at the presence of MIT technology to ensure a successful running of the operations. Tesla Solar City is a vehicle company that also deals with roofing activities where there is the placement of solar panels on the rooftops (Martin). The CEO of Tesla company, Elon Musk together with his employees, vowed about making the company to be the worlds only vertically integrated Energy Company offering end-to-end clean energy products to their customers. Before Tesla merged with Solar City, Tesla Company offered a deal of $2.79 billion to the solar city to buy the company.
The products of this organization, with the support of Tesla, adversely range in providing energy services in places where there is a problem with the lighting systems. The solar energy provided is working even in the cars manufactured by Tesla. The production and placement of solar devices in cars highly reduces cost and is efficient due to it being easily rechargeable (Bullis). However, Tesla Solar City Technology introduced home batteries to provide a direct supply of energy for use at home directly from rooftops. The Powerwall home batteries are in two sizes that are in the seven and 10-kilowatt hours (kWh) with a difference extended beyond the chemistry capacity of the batteries. Moreover, the 7kWh version is created for daily use, and the 10kWh version is for backup use in case of there being a lack of electricity. Jonathan Bass, a spokesperson for Solar City, stated, The bigger Tesla battery is not designed to go through more than 50 charging cycles a year. The development of the batteries catered for many customers needs, therefore, increasing the rate of demand with an increase in supply making the company require expansion up to $5 billion battery factory. The expansion battery factory is constructed in Nevada desert to make lithium-ion-batteries for its cars and the Powerwall and Power pack systems.
Figure 1: Solar City has already installed hundreds of backup battery systems in homes, like the one shown here (Kilgore).
The quality of services offered to the customers is of great quality. Tesla focuses on satisfying its customers wants and working for their preferences to develop a bond of loyalty between the company and the customers (Kilgore). The CEO of Tesla without consulting the shareholders only with interest to offer quality products to their customers takes a risk and buys Solar City to strengthen Tesla and keep it within completion range of other companies (Martin). Moreover, to ensure providence of quality services to the customers, Tesla only hires well-qualified individuals with knowledge in solar appliances, is respectful, and has great communication skills. Communication skills are so important to make customers feel welcomed and more comfortable to by the products and increase the spread of the organization having quality services.
In marketing, in the year 2016, Musk the CEO of Tesla is claimed to have brought about a decrease in the level of making a profit. The electric-car maker company Tesla had a TSLA of -0.38% during its attempt to buy the Solar City (Kilgore). The company had a decrease in the sector weight level to about +0.36% with a value estimate for the stock, which was approximate, $212. The value stock was 3.4% below the initial closing price of $219.61 during their Tuesday sells (Bullis). Despite this low performance on the company after buying Solar City, with the movement of time, the market rate of the company seems to be growing and profits are from most sales increase with every sale. Additionally, the introduction of the Powerwall batteries has increased the rate of profit due to the high demand level.
Figure 2: Graph showing the loss rate of Tesla after bidding for Solar City (Bullis).
Bullis, Kevin. "Solar City and Tesla Hatch a Plan to Lower the Cost of Solar Power." MIT technology review, 19 Sept. 2014.Kilgore, Tomi. "Teslas buyout of Solar City is a negative for the stock, analysts say." Market Watch, 22 June 2016.
Martin, Richard. "Tesla-Solar City Success Depends on Battery Technology That Doesn't Yet Exist." Sustainable energy, 22 June 2016.
Cite this page
Review of Tesla Solar City Products, Services, and the Market Served. Company Report Example.. (2021, Jun 16). Retrieved from https://proessays.net/essays/review-of-tesla-solar-city-products-services-and-the-market-served-company-report-example
If you are the original author of this essay and no longer wish to have it published on the ProEssays website, please click below to request its removal:
- Essay Sample on Importance of Stakeholders
- Pressure Ulcer Management Among ICU Nurses in Toronto Paper Example
- Evaluation Essay on Uber: Summary of the Main Principles of Agency
- Ching-Hung Woo Says Freedom Is Compatible With Choices Being Determined
- Case Analysis: A Remarkable Turn-Around
- Paper Example on Organizations, Laws, and Norms Concerned With Child Marriage
- Management Essay Example: Change in the Healthcare Systems