Tesla Power broke a number of information for power storage deployments and margins in 2024, and because the firm not too long ago revealed in its newest earnings name, it’s additionally trying to set up one more manufacturing unit for its grid-scale Megapack batteries.
On Wednesday, Tesla held its This fall 2024 earnings name, throughout which the corporate introduced plans for a 3rd Megafactory for manufacturing of the Megapack, following its current completion of a second such plant in Shanghai, China. The information was shared by CEO Elon Musk, although he didn’t disclose the place Tesla deliberate to construct the upcoming plant.
“So, we now have our second manufacturing unit, which is in Shanghai, that’s beginning operation, and we’re constructing a 3rd manufacturing unit,” Musk stated.
Together with beginning manufacturing in Shanghai this quarter, Tesla has additionally been ramping up manufacturing of the Megapack at its Lathrop, California manufacturing unit over the previous few years, and it’s ultimately aiming to succeed in a quantity manufacturing of 10,000 Megapacks per 12 months at each factories.
So as to add slightly little bit of perspective, Tesla constructed its 10,000th Megapack on the Lathrop facility in November, after finishing building of the plant in 2022.
Tesla’s large Megapack web site close to Melbourne is sort of prepared
Tesla Power in 2024 and a glance again at earlier years
Along with the Megapack, Tesla sells its Powerwall dwelling batteries in nations world wide, and the 2 merchandise collectively achieved file deployments in This fall and 2024 total. Within the fourth quarter alone, Tesla deployed a file of 11 GWh of power storage, representing a 244 p.c improve 12 months over 12 months.
By way of all of 2024, Tesla deployed 31.4 GWh of power storage whole, up 114 p.c 12 months over 12 months. By Q3, Tesla had additionally already outpaced its 2023 power storage deployments, even earlier than its file This fall and full-year outcomes.
Tesla’s power deployments is also seen ramping all through 2024, with extra Megapack and Powerwalls going out than ever, as evidenced by deployments of 4.1 GWh, 9.4 GWh and 6.9 GWh within the first, second and third quarters of the 12 months, respectively.
Collectively, these amounted to a record-high gross revenue for the corporate’s power sector in This fall, particularly as manufacturing continued to ramp, leading to value reductions on the Lathrop Megafactory. The corporate has additionally highlighted its continued rollout of the next-generation Powerwall 3 in quite a few markets, which is anticipated to proceed into this 12 months.
Credit score: Tesla
Credit score: Tesla
You may see Tesla’s full This fall and full-year 2024 shareholder deck right here, or take heed to the corporate’s full earnings name under.
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