TECH - Tesla More Than Doubles Energy Storage Deployment To Mark Its Best Quarter Yet Even As EV Demand Concerns Persist | Benzinga
EV giant Tesla Inc (NASDAQ:TSLA) said on Tuesday that it deployed 9.4 Gigawatt-hours of energy storage products in the second quarter, marking its highest quarterly deployment yet, and a jump of nearly 132% from the first quarter.
What Happened: Tesla started reporting the amount of energy storage products it deployed with its vehicle delivery numbers starting in the first quarter of 2024. Until then, the company reserved reporting on its energy storage segment for its quarterly financial report, rather than the delivery report.
In the first quarter, the company deployed 4.053 GWh of energy storage products. The energy generation and storage segment, Tesla’s highest margin business, subsequently reaped revenue of $1.635 billion. At the time, the company also said that it continuing to ramp its 40 GWh Megafactory in Lathrop, California, toward full capacity.
Tesla ...