German residential solar battery maker sonnen is extending capacity at its home base in Wildpoldsried with demand for home storage systems expected to grow as subsidy programmes for supplying renewable power to the grid end. There are 1.8 million photovoltaic plants in Germany, the bulk being small rooftop solar units. Homeowners have benefited from a rolling 20-year programme of generous feed-in tariffs for selling renewable energy to the grid.
Shares of LG Chem Ltd <051910.KS>, which supplies batteries to Tesla Inc <TSLA.O>, climbed on Tuesday, after media said the U.S. electric vehicle maker was looking to acquire a stake in a battery unit the South Korean company wants to dispose of. "Tesla is said to be exploring taking up to a 10 percent stake in LG Energy Solution," the Korea Times quoted an unidentified banking source as saying, in the U.S. firm's quest for a stable supply of batteries. Tesla delivered 367,500 vehicles last year.
The Tesla Battery Day Event fails to cheer investors and raises questions on the stock's lofty valuations. We have highlighted three relatively cheaper picks to tap the EV boom.