Tesla Vitality achieved vital milestones in vitality storage deployments and profitability in 2024. Throughout its latest earnings name, the corporate introduced plans for a brand new manufacturing unit devoted to producing its grid-scale Megapack batteries.
On Wednesday, executives shared updates throughout Tesla’s This autumn 2024 earnings name, revealing plans for a 3rd Megafactory geared toward Megapack manufacturing. This announcement follows the completion of a second plant in Shanghai, China. CEO Elon Musk confirmed the enlargement however didn’t specify the situation for the brand new facility.
Musk famous, “We now have our second manufacturing unit in Shanghai, which is commencing operations, and we’re constructing a 3rd manufacturing unit.” In the meantime, Tesla has been rising Megapack manufacturing at its Lathrop, California manufacturing unit, with an formidable aim of reaching a manufacturing capability of 10,000 Megapacks yearly from each factories.
To focus on their progress, Tesla accomplished its 10,000th Megapack on the Lathrop facility in November, following the plant’s development in 2022.
Tesla Vitality’s Efficiency in 2024 and Historic Context
Apart from the Megapack, Tesla gives its Powerwall residence batteries globally, and collectively, these merchandise set new deployment information in each This autumn and all through 2024. Within the fourth quarter, Tesla deployed a powerful 11 GWh of vitality storage, representing a 244% enhance year-over-year.
For all the yr of 2024, the corporate achieved a complete deployment of 31.4 GWh of vitality storage, marking a 114% rise in comparison with the earlier yr. By Q3, Tesla had already exceeded its total 2023 deployments, previous to its record-setting This autumn efficiency.
The vitality deployment development confirmed constant development all through 2024, with first, second, and third quarter deployment figures of 4.1 GWh, 9.4 GWh, and 6.9 GWh, respectively.
This enhance in manufacturing and deployment resulted in a record-high gross revenue for Tesla’s vitality sector in This autumn, aided by ongoing manufacturing ramp-up and value reductions on the Lathrop Megafactory. The corporate additionally highlighted the continued rollout of its next-generation Powerwall 3 throughout numerous markets, which is anticipated to persist into the approaching yr.
For extra detailed insights, Tesla’s full This autumn and 2024 year-end shareholder presentation is on the market for assessment, together with the audio of the earnings name.
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Tesla plans third Megafactory after breaking vitality information in 2024
