Tesla Motors shares have been on a real tear the last couple of months. The EV maker’s stock has moved up from a low of $185 on March 27th all the way up to $250 earlier this week. That’s a 35% move up for Elon Musk’s pride and joy in just over two months.

Tesla Motors Inc Shares On the Move In April And May

There have been a number of catalysts for the increase in share price, including enthusiasm for Tesla’s new Powerwall home energy storage unit.and reassuring words from the company regarding still being on track for the launch of the all-electric Model X SUV by September. Tesla shares closed Thursday at $245.92.

Reasons for enthusiasm about Tesla

The initial success of new Powerwall home battery business is a big part of the run up in Tesla stock. Equally important, however, is the firm’s continuing confidence that it can begin delivering the new Model X SUV by the third quarter. Analysts note that progress in some states in Tesla getting permission to bypass the dealer network and sell cars directly to consumers is also boosting investor enthusiasm. Moreover, construction of the firm’s $5 billion Gigafactory battery plant in Nevada is apparently on schedule. Finally, Tesla is going to start selling used cars soon, expanding the company’s ownership base.

More on Tesla’s new Powerwall

Tesla introduced its new Powerwall home energy units a few weeks ago, and the mega-battery units are already sold out through mid-2016. You can get Powerwall in two sizes: a 7kWh model for $3,000 designed for daily use, and 1a 0kWh model for $3,500 designed to provide a backup, plus installation charges. Either unit can be charged using solar energy or power from electricity grid (when energy rates are low).

It boils down to the fact that the pressure is really on Tesla and its superman CEO Elon Musk to deliver the $100,00 Model X on time. If he doesn’t, it will be nearly impossible to and to meet his promise to sell 55,000 vehicles in 2015.