Tesla Says It Can Make One Powerwall 3 Every 25 Seconds: CEO Elon Musk Terms It 'A Great Product'
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) announced that it can produce one Powerwall 3 unit every 25 seconds, amounting to over 700,000 units annually. The Powerwall 3, a home battery for storing solar energy, has contributed to a 100% year-on-year revenue increase in Tesla's energy generation and storage segment. Tesla expects its energy business revenue growth to outpace its automotive segment for 2024.
August 03, 2024 | 6:56 am
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Tesla's ability to produce one Powerwall 3 every 25 seconds and the significant revenue growth in its energy segment are positive indicators for the company's stock. The energy business is expected to outpace the automotive segment in revenue growth for 2024.
The announcement highlights Tesla's production efficiency and the strong performance of its energy segment, which has seen a 100% year-on-year revenue increase. This is likely to positively impact Tesla's stock price in the short term as investors may view the energy segment's growth as a new driver for the company's overall revenue.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100