After Tesla, BMW is Planing to Make Power Storages for Homes
Maybe most of you ask, why the auto manufacturers are entering this market. They need to focus on making more efficient all-electric cars. But also, they are the best option for homes in which need power storage for their home solar system.
Maybe most of you ask, why the auto manufacturers are entering this market. They need to focus on making more efficient all-electric cars. But also, they are the best option for homes in which need power storage for their home solar system. Lithium-ion batteries that used by cars or at home are still a new technology. There are many problems they are facing right now. The vehicles driving range is still too short, if you compare them with gasoline powered vehicles, they have problems with overheating, as we saw many videos about hover boards that catch fire all the sudden or a Tesla burst in flames during a recharge, and their charging time, still too long. Some researchers find a solution for this slow charging situation but the system still need more time.
Also, opening a battery factory can be costly. Tesla will invest 5 billion to their battery factory, and Faraday Future will spend 1 billion for their new plant in Nevada. These plants will need an enormous amount of raw materials. Tesla already made millions of dollars of agreements with the several mine companies for the raw materials that required producing batteries. German automaker Audi is working on new battery technologies, Nissan also investing millions of dollars to improve the battery technology, And there is Formula E, which will help the companies develop the technology of batteries. As you see, Lithium-ion batteries rely on the automotive market to improve, and auto manufacturers rely on lithium-ion batteries to be part of the future auto market of all-electric vehicles.
READ ALSO: Trade the Clean Energy that You Produce from Your Home
And BMW is one the companies who is getting stronger in the all-electric car market. And they are going very well against the other European auto manufacturers. Instead of making concept car that never can be sold. They made two great all-electric car model that are on sale right now. With this new plan business strategy to enter into the private energy storage market, they will be one step ahead from many car manufacturers. BMW is planning to deliver their first energy storages for homes at later this year. The company also claims that i3 batteries can be used in this new home power storage systems with limited development and cost effort. Also, in the future, they are planning to re-use the old batteries which used by their electric cars. This re-usage will also give the company some extra earnings from the old batteries; it is wonderful news for the environment too. For us, BMW’s strategy of this market is brilliant and the company will be one of the strongest in the all-electric car market. And they are already very popular in the regular automotive market so they will be the biggest competitor of Tesla, Faraday Future or any other new all-electric car producer.
Related Coverage
- Tesla’s PowerWall New Rival “Mercedes-Benz’s Home Batteries”
- BMW showed off its I-Series at the 2015 LA Auto Show
- Will Nissan Leaf Has Chance Against Tesla or GM?
- Volkswagen and Shell Try to Block Tesla and Others to Entering the EU Market
- Solar Powered Eco-Capsule, A Little Home That You Can Take Anywhere
Don't miss new tech stories on Google
Add TrendinTech once in the Google app and our stories appear in your news suggestions.
Rachel Kowalski
Rachel Kowalski is the Cybersecurity Analyst at TrendinTech, where she covers vulnerabilities, ransomware, supply chain attacks, nation-state operations and the security rules shaping organizations in the United States and Europe. Before moving into journalism she worked as a threat intelligence analyst at a security vendor and later reported for CyberScoop and the security desk at Wired, covering the SolarWinds compromise and the ransomware wave that hit hospitals and pipelines. Rachel holds a Master of Science in Cybersecurity from the Georgia Institute of Technology and attends Black Hat and DEF CON in Las Vegas each year, where she follows research from the security community. She writes to make risks and countermeasures understandable to people who are not specialists.
All stories by Rachel Kowalski (214)