Tesla’s battery division has quietly subsidized its EVs for years…until now? (Bloomberg)
Tesla’s Q1 battery deployments dropped 15% compared with last year. Analysts blame the notoriously “lumpy” nature of utility-scale project timelines…but the broader threat stems from Washington (no surprise here). The crackdown on wind and solar directly threatens the storage installations long tied to these developments.
Now, data centers offer an alternative profit pipeline. BNEF is currently tracking 51.5 GWh of on-site storage across the industry, including $430M in Megapacks that Tesla sold directly to Elon Musk’s own xAI last year. Convenient.