Tesla CEO Elon Musk Teases Product Line Unveiling on Twitter

Mar 31, 2015 08:02 AM EDT | Matt Mercuro

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Tesla CEO Elon Musk teased on Twitter that his company will unveil a new product line on April 30, but it won't be a new car.

The popular executive's tweet caused Tesla stock to rise 3 percent to $190.60 after trading, according to Reuters.

The announcement will supposedly involve a Tesla-branded storage battery for homes, according to Reuters, citing a "source familiar with the plan." There is a chance that Musk might have already told us what we should all expect.

"We are going to unveil the Tesla home battery, the consumer battery that would be for use in people's houses or businesses fairly soon," Musk said during an earnings conference call in February, according to Reuters.

He said the unveiling would take place in about a month or two during the conference call, which would line up with the April 30 unveiling mentioned in his Monday tweet.

Whatever the unveiling is, let's hope it goes better than his last one.

Earlier this month, Musk tweeted out that Tesla would unveil a new product line that would put an end to "range anxiety," which is believed to be the number one reason people are afraid to purchase a Tesla.

Stock dropped a few percentage points after the company released an update for a "range assurance" app and trip planner instead of announcing more superchargers are on their way.

Tesla's stock has gone up and down all year over investor's concerns about the automaker's failure to reach sales targets in China. Musk handled those failures by firing 30 percent, or 180 of its 600 employees, in China after missing sales targets, according to the Economic Observer newspaper.

Musk seemed like he had confidence in Tesla's China Team on Monday at least, telling his followers on Twitter that despite their earlier "mistakes" people should have "great faith" in Tesla.

Make sure to check back with AutoWorldNews for the latest Tesla updates and follow us on Facebook and Twitter.

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