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Tesla Motors Inc (NASDAQ:TSLA) is Fighting off Nissan on Two Fronts

Tesla Motors Inc. (TSLA) Powerwall

Tesla Motors Inc faces very little challenge from Nissan when it comes to EVs. The Leaf is hardly a threat to Tesla. Now the Japanese car maker wants a piece of the home energy-storage field as well. Tesla is in that space with the Powerwall and sales of that product are beginning to pick up momentum this year. On Monday, the firm announced that it will soon launch a home energy-storage device that will be made from the recycled batteries from its Leaf EVs.

Partners with Eaton

Nissan unveiled the device called xStorage system at an event in East London to take on Tesla Motors Inc ’s Powerwall. It is making it in partnership with power- management firm – Eaton. The product will receive power from 12 Nissan Leaf battery modules, and will connect to a residential power supply.

The product will receive power from 12 Nissan Leaf battery modules, and will connect to a residential power supply.The device charges up on the availability of renewable energy or when the energy from the grid is cheap as it often is during night. And, when the energy costs are high, it releases that energy for powering the house. Nissan says consumers will also be allowed to sell energy back to the grid.

The device charges up on the availability of renewable energy or when the energy from the grid is cheap as it often is during night. And, when the energy costs are high, it releases that energy for powering the house. Nissan says consumers will also be allowed to sell energy back to the grid.

Nissan says the xStorage will be the first to offer an integrated energy storage system for the home. The system will connect via a smartphone app allowing owners to switch between energy sources.

Nissan’s xStorage vs. Tesla Powerwall

Eaton Electical EMEA’s VP of Marketing Cyrille Brisson said, “Our system will be provided to end users completely ready to use, with all required elements including cabling and installation by a certified professional, at a starting price of 4,000 euros for 4.2 kilowatt-hours (kWh) nominal.” (The Powerwall offers 6.4kWh of storage capacity).

Brisson said their policy is to avoid hidden costs, and achieve a lower total cost of ownership than the rivals. Nissan and Eaton expect that within the first five years itself they will ship 100,000 units.

Starting in September of this year, the xStorage device will become available in the UK for £3,200 (approx. $4,600). As of now, the firm has no plans for its distribution in the US. The headline price is higher than Tesla Motors Inc ’s Powerwall, but the firm says it is inclusive of cost of converters, installation, etc.

Fuel Station of the Future

On Tuesday, the carmaker also unveiled its Fuel Station of the Future concept that provides a conceptual look at how the homes and offices will receive power from its Leaf vehicles and xStorage batteries and give back energy to the grid – in the future.

Nissan made an announcement regarding new trial of its vehicle-to-grid (V2G) system. The system is in its early stages as of now, and promises to offer exactly the same benefits as a home energy storage system, but it hooks up to the battery in the EV of the users instead.

After a small test in Denmark that started in January, the system will be tested in the UK. The trial will include 100 Leaf and e-NV200 vehicles owned by both private and commercial customers.

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Adam Green is an experienced writer and fintech enthusiast. He he worked with LearnBonds.com since 2019 and covers a range of areas including: personal finance, savings, bonds and taxes.

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