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Tesla is the undisputed leader in electric vehicles. Are batteries and energy storage their next frontier?

‍What’s happening:‍

  • Tesla (NASDAQ: TSLA) has announced a new all time record for energy storage deployment from the installation of their Powerwall and Megapack batteries

By the numbers:‍

  • In their most recent quarter, Tesla expanded their energy storage deployment to 11.0 gigawatt hours
  • This represents a significant increase from 6.9 gigawatt hours of energy storage being deployed in their previous quarter
  • Megapack batteries for commercial purposes are now available and operating in more than 60 countries globally

Why it matters:‍

  • Tesla has quietly been expanding their residential and commercial battery business, which has started to become a major new source of revenue amidst the global adoption of renewable energy

Going deeper:‍

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