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
  1. 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
  1. 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
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