As a dedicated follower of Tesla (TSLA) and their innovative advancements, I was thrilled to learn about their impressive 158% year-over-year increase in energy storage deployment for Q2 2024. The statistic reached an astounding 9.4 gigawatt hours, surpassing the previous quarter’s 4.1 gigawatt hours and outshining the same period in the prior financial year with a 3.7 gigawatt hour deployment.
Today, Tesla (TSLA) unveiled its Q2 2024 earnings report, revealing a rise in the quantity of energy storage systems installed during the period.
On July 23, 2024, I logged into Tesla’s (TSLA) investor relations website to check out their Q2 2024 earnings report. To my excitement, I noticed that they shared some impressive numbers regarding their energy storage business. They reported a staggering 158% year-over-year growth! This means they deployed an astounding 9.4 gigawatt hours of energy storage during the quarter.
As a gamer, I can tell you that the company’s energy usage in Q1 2024 was significantly higher than the same quarter in the previous year. In Q1 2024, they deployed an impressive 4.1 gigawatt hours of energy, whereas in Q2 2023 (the previous year), they only utilized 3.7 gigawatt hours. That’s a noticeable increase!
From a Tesla enthusiast’s perspective, while the company is widely recognized for manufacturing electric vehicles, it also produces an impressive range of energy storage solutions. To illustrate this point, let me refer to Yahoo Finance’s insights. They highlight Tesla’s Powerwall batteries, which can store an impressive 12.2 kilowatt hours, and Megapack facilities capable of holding a substantial 3.9 megatwatt hours.
In the previous April, Tesla unveiled its intention to establish a Megafactory in Shanghai for primary focus on manufacturing batteries. A significant hurdle in producing batteries is the heavy dependence on lithium. Previously, Musk expressed that Tesla ranks among the most efficient companies in lithium processing. However, he has encouraged other businesses to join in and contribute to this essential process.
Make sure to check our Tesla News page regularly for up-to-date information on Tesla’s earnings reports as they come out each quarter.
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2024-07-24 01:27