Tesla's financial report for the second quarter of 2024 showed that it achieved total revenue of US$25.5 billion (about 185.5 billion yuan), a year-on-year increase of 2.3%, and quarterly non-GAAP net profit of US$1.8 billion (about 13.1 billion yuan). Among them, the energy storage business has achieved a historic leap, and made up for the loss of electric vehicles.
On March 1, 2023, Tesla officially launched the "Secret Grand Plan Chapter 3", officially announcing the development plan of its energy business. Tesla believes that 240TWh of energy storage will be needed if renewable energy is to completely replace fossil fuels in the future. In this process, Tesla plans to provide feasible solutions for achieving a global sustainable energy economy through terminal electrification, sustainable power generation and energy storage.
In the past year, Tesla's energy storage business has added 9.4GWh of installed capacity in a single quarter, a year-on-year increase of 157.3% and a quarter-on-quarter increase of about 132%.
According to the data, Tesla's power generation and energy storage business revenue in the second quarter of this year was US$3.014 billion, an increase of 99.7% compared with US$1.509 billion in the same period last year, and an increase from US$1.635 billion in the previous quarter. Energy storage revenue accounted for 11.8%, a record high. The cost of energy storage business is about 2.274 billion US dollars. According to this estimate, the current gross profit margin of Tesla's energy storage is about 24.55%, much higher than the company's overall 17.95%.
It is worth noting that similar to the Chinese energy storage market, the cost of Tesla's large-scale energy storage system Megapack is declining rapidly, even faster than the energy storage cost in the Chinese market.
According to statistics, in June 2023, the EPC bid price of China's 2h 100-megawatt energy storage power station was about 1.5 yuan/Wh, while the recent domestic energy storage EPC quotation was about 1.2 yuan/Wh, a decrease of about 20% from last year. At present, the price of Tesla's more than 100 sets of 2h energy storage system Megapack is about RMB 1.80/Wh, down 51.4% from RMB 3.71/Wh in the same period last year. At present, the price of each 4h version of the energy storage system Megapack is about RMB 1.81/Wh, a decrease of more than 60% compared to the same period last year.
However, despite the sharp reduction in prices, Tesla still achieved a large increase in revenue and profits with its historic large-scale energy storage installation, which not only outpaced the growth rate of the electric vehicle business, but even made up for the decline in electric vehicle profits.
Tesla said that its Megapack energy storage system can not only support low-cost, high-density utility and commercial projects up to gigawatt hours, but also meet the global trend of strong artificial intelligence and subsequent surge in demand for stable power supply. Second, in remote areas, Tesla's energy storage products can provide stable power supply for local residents and improve living conditions. In developed countries, these products are also widely used in industry and commerce, for electricity bill management, etc.
Source：https://news.bjx.com.cn/html/20240725/1391028.shtml