Tesla energy up 358% to $12.8B as battery deployments fall
Tesla's battery and solar business just shot up 358% since 2021, hitting $12.8 billion in revenue last year, even as its electric car sales slipped to $69.5 billion thanks to tougher competition and political bumps.
But it's not all smooth sailing: Tesla saw a 15% drop in battery deployments this past quarter, making analysts a bit uneasy ahead of the company's next earnings update.
Tesla plans Megapack 3 and Megablock
To turn things around, Tesla is rolling out two new products later this year, the Megapack 3 and a planned Megablock unit, aiming to keep its stronghold in North America's energy storage market (where it already owns nearly 40%).
Their large-scale battery solutions are still a top pick for project developers looking for reliable, affordable energy options, and these upcoming launches could help push growth even further.