Tesla Vitality broke a number of information for vitality storage deployments and margins in 2024, and because the firm not too long ago revealed in its newest earnings name, it’s additionally seeking to set up one more manufacturing facility for its grid-scale Megapack batteries.
On Wednesday, Tesla held its This autumn 2024 earnings name, throughout which the corporate introduced plans for a 3rd Megafactory for manufacturing of the Megapack, following its latest 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 have now our second manufacturing facility, which is in Shanghai, that’s beginning operation, and we’re constructing a 3rd manufacturing facility,” 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 facility over the previous few years, and it’s finally aiming to achieve a quantity manufacturing of 10,000 Megapacks per yr at each factories.
So as to add somewhat little bit of perspective, Tesla constructed its 10,000th Megapack on the Lathrop facility in November, after finishing development of the plant in 2022.
Tesla’s large Megapack website close to Melbourne is nearly prepared
Tesla Vitality 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 document deployments in This autumn and 2024 general. Within the fourth quarter alone, Tesla deployed a document of 11 GWh of vitality storage, representing a 244 % improve yr over yr.
Via all of 2024, Tesla deployed 31.4 GWh of vitality storage whole, up 114 % yr over yr. By Q3, Tesla had additionally already outpaced its 2023 vitality storage deployments, even earlier than its document This autumn and full-year outcomes.
Tesla’s vitality deployments may be 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 yr, respectively.
Collectively, these amounted to a record-high gross revenue for the corporate’s vitality sector in This autumn, 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 a variety of markets, which is anticipated to proceed into this yr.
Credit score: Tesla
Credit score: Tesla
You possibly can see Tesla’s full This autumn and full-year 2024 shareholder deck right here, or hearken to the corporate’s full earnings name beneath.
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