NEW YORK (TheStreet) --Last Thursday Tesla Motors (TSLA) unveiled its residential and commercial-scale batteries at an event outside of Los Angeles as part of the electric car makers plan to generate new revenue, and Reuters is reporting that Tesla may not be as far ahead of the competition as it believes.
"We're just not aware of who would even really be second, honestly," Tesla CEO Elon Musk said at the event.
As it turns out Tesla is not the only competition in the business of offering integrated systems for generating solar power and storing it on-site, Reuters said, adding that established energy players like Samsung SDI (SSDIF), LG Chem (LGCLF), and Saft Group are just some of the companies marketing similar products.
Shares of Tesla are up by 0.79% to $267.82 in pre-market trading on Monday morning.
Tesla's system starts at $3,000 for a home storage battery pack and analysts speaking with Reuters say that the price is in-line with the rest of the market.
Separately, TheStreet Ratings team rates TESLA MOTORS INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TESLA MOTORS INC (TSLA) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, poor profit margins and generally high debt management risk."