Tesla Has Sold $15 Million Worth Of PowerPack 2.0

Tesla Inc's (NASDAQ: TSLA) ambitions to diversify itself outside of the automarket is well known to investors. After all, the company officially changed its name from Tesla Motors to Tesla Inc to reflect that fact.

The company now sells what's essentially a box that contains thousands of battery cells similar to what is used in its car. The product is called Powerpack and serves as a scalable battery pack for commercial and utility-scale projects.

According to notable Tesla-bull analyst Trip Chowdhry, of Global Equities Research, the company has already booked $15 million worth of orders for the PowerPack 2.0, the second generation of its battery pack.

Related Link: The New Tesla Is Already Up To Great Things: Check Out This 100% Solar Powered Island

Chowdhry noted in a brief report on Friday his research suggests Tesla has won 15 to 20 utility and commercial customers, which gives him confidence that Tesla's Energy segment has so far in the first quarter booked revenues of around $15 million.

The analyst highlighted a SFGate report, which details one of these new contract wins. Tesla has been collaborating with the state of California to add solar power at a rapid pace and has been operational since the start of February.

Chowdhry highlighted the agreement called for 22 PowerPacks and Tesla booked around $1 million in revenue. A larger Tesla PowerPack 2.0 system was also deployed at the Southern California Edison and revenue from this system is around $3.5 million.

Tesla's stock lost nearly 4 percent on Thursday and was trading lower by another 1.65 percent ahead of Friday's market open.