2024.Q2 IR Report – Tesla Energy Sector
- The non-automotive business is becoming an increasingly profitable part of Tesla
- ESS expansion and more car rental customers
- Non-Automotive Business’ Revenue Growth Expected to Continue
- Energy production and storage
- Megapack and Powerwall achieve record deployment in Q2, recording total energy storage deployment of 9.4 GWh
- Energy Business Reaches Record Revenue And Gross Profit
Lasrop Gigafactory Successfully Expands Production In Q2 With Production Records
- Shanghai Gigafactory Targets To Start Production In Q1 2025
- Although production is expected to continue to increase, timing of deployment may vary depending on several factors
- Powerwall 3 successful launch, available in Canada, UK, Germany, outside of US
- Services and Others
- The sequential revenue growth in the services and other business segments was primarily driven by higher gross profit generation from improved service center margins and collision repairs
- Supercharger Network Continues Expansion, Set To Be Largest Deployment In North America This Year
- Focus on capital efficiency, congestion relief, and coverage improvement
- Network To Open To Vitesla EVs, Plans More OEM Onboarding In North America By End Of This Year
- Network utilization is expected to continue to grow throughout the year, which will drive revenue growth and profit generation
