Tesla’s Mega Factory profit from manufacturing large-capacity storage batteries is estimated to be equivalent to the profit from selling one million Tesla vehicles.
On the 10th, Morgan Stanley raised its valuation for Tesla’s energy storage business, anticipating a surge in global electricity demand due to the AI boom and Tesla’s potential market share growth in this sector. Adam Jonas, an analyst at Morgan Stanley, said, “It’s no wonder that investors are starting to consider the real possibility that Tesla Energy may be worth more than Tesla Auto.”
During this year’s second quarter, Tesla deployed 9.4 gigawatt-hours of energy storage products, which is more than double from the previous quarter. The products include the Powerwall home power backup system and the Megapack for commercial use.
Oppenheimer predicts that Tesla’s energy storage revenue will exceed $3 billion this quarter. Oppenheimer stated, “The value of its full-self driving (FSD) AI platform is the key to whether shares will continue moving higher or begin to moderate again.“
Elon Musk stated in April that he is optimistic that Tesla will reveal fully automatic driving software this year–hopefully generating significant profits.
Tesla’s stock price surged nearly 44% in the last 10 sessions, the longest streak over a year. According to LSEG data, Tesla’s daily stock trading volume outnumbered Nvidia for the first time in six months last week. In 2023, the proportion of Tesla’s revenue from the energy storage and generation sector was 6%, with the rest coming from the automotive sector.
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