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☆ Tesla's energy storage business was the highlight of its blowout earnings, and Elon Musk says it's 'growing like wildfire'
▼ + stars: | 2024-10-25 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Its energy business grew by over 50% year over year, earning Tesla over $7 billion in revenue so far in 2024. Elon Musk said on Tesla's earnings call that the energy unit is "growing like wildfire." Revenue for Tesla's energy generation and storage business was nearly $2.4 billion in the third quarter of 2024, up 52% from the same period last year. Advertisement"The energy storage business is growing like wildfire, with strong demand for both Megapack and Powerwall," Musk said. The billionaire said that Tesla's Megapack factory in Lathrop, California, had hit an important production milestone of 200 units per week.

Persons: Tesla, Elon Musk, —, it's, Elon Musk's, That's, Musk Organizations: Service, Tesla Locations: Lathrop , California, Shanghai, Megapack

☆ Here are Thursday's biggest analyst calls: Tesla, Apple, Microsoft, Delta, Disney, Snowflake, Okta, Salesforce & more
▼ + stars: | 2024-02-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Goldman Sachs reiterates Salesforce as buy Goldman said it's standing by its buy rating following the company's robust earnings report on Wednesday. "Multiple high-profile catalysts should double revs by FY28 & support an Outperform rating with a $54 PT." "We initiate coverage of Gates Industrial (GTES) with a Buy rating and $21 price target. The more aggressive stance follows a near week long sell-off in COLD shares following 4Q results and initial 2024 guidance." Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by its buy rating after a meeting with Microsoft investor relations.

Persons: Jefferies, Roth, Roth MKM, Morgan Stanley downgrades Snowflake, Morgan Stanley, Goldman Sachs, Salesforce, Goldman, it's, TD Cowen downgrades Macy's, Telsey, TD Cowen, Wells, Needham, " Jefferies, Tesla, Coupang, Baird, Cantor Fitzgerald, Cantor, Gates, Piper Sandler, Piper, Raymond James, William Blair, Gordon Haskett downgrades, Haskett, Frank Slootman's Organizations: Jefferies, Barrick Gold, NEM, UBS, Apple, Mar, Bitdeer Technologies, BTC, Citi, United Airlines, Delta, Delta Air Lines Inc, DAL, Deere & Company, American Airlines Citi, Catalyst Watch, Reliance, Star India, JV, UBS downgrades Republic Services, Downside, RBC, Xenia Hotels, Resorts, Deutsche Bank, Deutsche, Products, Gates, NTR, LXU, UW, Bank of America, underperform Bank of America, Realty Trust, Fidelity, Korn, Microsoft, Macquarie Locations: U.S, China, American's, DIS's, Xenia, Federal, Korea

☆ Veterans from Tesla, Northvolt hatch plan to mass-produce huge batteries to store solar and wind energy
▼ + stars: | 2023-10-04 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

The mountains of Colorado in the background inspired the name of the company, Peak Energy. We're completely the opposite," Cameron Dales, president and chief commercial officer of Peak Energy, told CNBC in a video interview Friday. 1 issue we face as it relates to expanding renewable energy sources is storage," Reichow told CNBC. "We're running a playbook which I and the rest of the executive team initially demonstrated and deployed at Northvolt," Mossburg told CNBC. "Landon and I worked together at Tesla and I know what he's capable of delivering," Reichow told CNBC.

Persons: Cameron Dales, Landon Mossburg, We're, Greg Reichow, Reichow, Ryan Gibson, Aidan Madigan, Curtis, Cameron, Mossburg, Northvolt, Peter Carlsson, Rho Kana, Enovix, Anil Achyuta, Landon, Tesla, Cam, It's, Alun Thomas, Dales Organizations: Peak Energy, Energy Battery, Energy, CNBC, Eclipse, Tesla, TDK Ventures, United States Energy Information Administration, Eclipse Venture, Cameron Dales, US, Dales, Symyx Technologies, Northvolt, Ford, Manufacturing Engineering, Panasonic Locations: Colorado, Silicon, Tokyo, San Francisco, Northvolt, Sweden, Cameron Dales, Fremont , Calif, Fremont , California, Penang, Malaysia, China, United States, U.S, Nevada, Enovix

☆ U.S. lawmakers to urge automakers to cut their reliance on China
▼ + stars: | 2023-06-19 | by ( ) www.cnbc.com time to read: +2 min

A bipartisan group of U.S. lawmakers will urge the CEOs of Ford Motor and General Motors to shrink reliance on China auto parts, particularly electric vehicle batteries, sources told Reuters on Monday. The focus on Chinese auto parts comes soon after U.S. Secretary of State Antony Blinken made a rare visit to Beijing and hours of meetings failed to produce any major breakthroughs. The $430 billion Inflation Reduction Act (IRA) signed by President Joe Biden in August aims to wean U.S. EV production from Chinese supply chains by imposing new conditions on EV tax credits. Ford's deal announced in February to use technology from Chinese battery company CATL as part of the automaker's plan to spend $3.5 billion to build a battery plant in Michigan has drawn criticism from some lawmakers. Republican Senator Marco Rubio has asked the Biden administration to block EV tax credits for batteries produced using Chinese technology.

Persons: Bolt, Tesla, Jim Farley, Mary Barra, Mike Gallagher, John Moolenaar, Raja Krishnamoorthi, Haley Stevens, Antony Blinken, Ford, Gallagher, Joe Biden, Ford's, Marco Rubio, Biden Organizations: Ford, Ford Motor, General Motors, Reuters, China, Bosch, Energy, U.S, Republican, Bloomberg Locations: Orion Township , Michigan, EVs, U.S, China, Detroit, Continental, Beijing, Shanghai, American, Michigan

☆ Eneco to build 50 MW battery storage plant in Belgium using Tesla batteries
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, June 7 (Reuters) - Dutch energy company Eneco said on Wednesday it would build a 50 megawatt (MW) battery energy storage project in Belgium using Tesla battery packs, its largest such project to date. The project in Ville-sur-Haine will consist of 53 "Megapack" battery units from Tesla, able to deliver power for 4 hours or 200 megawatt-hours in all. Such storage projects are expected to become increasingly important in coming years as increasing amounts of electricity is being generated from renewable sources such as solar and wind. Eneco is controlled by Japan's Mitsubishi Corp. (8058.T)Reporting by Toby Sterling; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Eneco, Toby Sterling, Jason Neely Organizations: Japan's Mitsubishi Corp, Thomson Locations: AMSTERDAM, Belgium, Ville

☆ Elon Musk's private jet has landed in Beijing - Reuters witness
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +3 min

BEIJING, May 30 (Reuters) - A private jet used by Tesla Inc (TSLA.O) CEO Elon Musk has arrived in Beijing, according to a Reuters witness. Tesla did not immediately respond to a request for comment on whether Musk had arrived in China. China is Tesla's second-largest market after the U.S., and the Shanghai plant is the electric car maker's largest production hub. The jet with its identifying tail number could be seen at Beijing Capital International Airport on Tuesday, according to the Reuters witness. While his plane was en route to China, Musk tweeted about advances in China's space program, which aims to land a crew on the moon before 2030.

☆ Musk expected to visit China this week, meet officials, sources tell Reuters
▼ + stars: | 2023-05-29 | by ( ) www.cnbc.com time to read: +2 min

Tesla Chief Executive Elon Musk is expected to visit China this week, three people with knowledge of the matter said, in what would be his first trip to the country in three years. Musk is expected to meet senior Chinese officials and to visit Tesla's Shanghai plant, two of the sources said. China is Tesla's second-largest market after the United States, and its Shanghai plant is the electric carmaker's largest production hub. The company has submitted plans to local authorities to expand capacity for producing powertrains at the Shanghai plant to 1.75 million units annually. In the same interview, Musk said tensions between the United States and China "should be a concern for everyone."

☆ Musk expected to visit China this week, meet officials - sources
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +2 min

HONG KONG/SHANGHAI, May 29 (Reuters) - Tesla (TSLA.O) Chief Executive Elon Musk is expected to visit China this week, three people with knowledge of the matter said, in what would be his first trip to the country in three years. Musk is expected to meet senior Chinese officials and to visit Tesla's Shanghai plant, two of the sources said. China is Tesla's second-largest market after the United States, and its Shanghai plant is the electric carmaker's largest production hub. The company has submitted plans to local authorities to expand capacity for producing powertrains at the Shanghai plant to 1.75 million units annually. Tesla is building a plant in Mexico expected to produce a lower-cost electric car built on its next-generation platform.

☆ China-Taiwan tensions could grip 2024 election as top business leaders sound alarms
▼ + stars: | 2023-05-19 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +12 min

China's policy regarding Taiwan, the world's leader in the semiconductor industry, could end up making it an even bigger focus. The cross-strait strife has already provoked commentary from some top contenders in the Republican presidential primary race who have stressed the need to deter a possible Chinese invasion invasion of the island. But I think ultimately what I think China respects is strength," DeSantis said. 'Like trying to separate conjoined twins'But the political will to defend Taiwan in a Chinese invasion may clash with economic forces. Some CEOs of America's biggest banks have said they would pull their business from China if directed to do so following an invasion of Taiwan.

☆ Tesla applies to expand Shanghai plant, add pouch battery cell output
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

May 16 (Reuters) - Tesla Inc (TSLA.O) has applied for regulatory clearance to expand its Shanghai plant and to begin producing for the first time pouch-type battery cells, albeit in small numbers. It was not clear how Tesla would use the pouch cells, which it has not previously used in its electric vehicles. Pouch cells, widely used in consumer electronics, differ from the cells Tesla has used for EVs in that the battery components are housed in a more flexible metal bag rather than a rigid cylinder. Tesla’s Shanghai plant, its largest worldwide, produced about 726,000 Model 3 and Model Y vehicles in 2022, more than half of the automaker’s global sales. Tesla is also seeking to ramp up production of cylindrical, 4680 battery cells in China and has brought in new suppliers to cut costs, Reuters has reported.

☆ Factbox: Tesla's Shanghai plant, targeted by worker protest, is key hub for EV maker
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

Here are key facts about Tesla's operation in Shanghai:BACKGROUNDTesla’s Shanghai plant, which began operations in late 2019, is the automaker’s largest manufacturing hub. The plant employs some 20,000 workers and accounted for more than half of Tesla’s global output in 2022. Some Tesla workers were told their performance bonuses were being cut because of the accident and took to social media to protest. KEY EXECUTIVETesla promoted its China chief Tom Zhu to take oversight of its global production and sales earlier this year. Under Zhu, the Tesla Shanghai plant managed a quick rebound from lost production last year due to COVID lockdowns in China.

☆ Baird's three favorite plays on the future of energy and mobility going into earnings season
▼ + stars: | 2023-04-17 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Here are three that made the list: Tesla: The favorite Kallo called electric vehicle maker Tesla his favorite pick in the sector. TSLA YTD mountain Tesla Rivian: The long-term play Competitor Rivian , meanwhile, is a smart long-term play, Kallo said. On the other hand, he lowered his price target and estimates for 2024 deliveries to reflect a more conservative ramp-up. RIVN YTD mountain Rivian Wallbox: The non-vehicle pick Wallbox , which makes charging stations and technology, is another stock Kallo deems worth holding. That $11 price target would still be 32.6% lower than where the stock ended 2021.

REUTERS/Florence LoWASHINGTON, April 10 (Reuters) - The leader of a U.S. congressional committee on China said on Monday he was concerned about electric carmaker Tesla Inc's (TSLA.O) dependency on China, a day after the company revealed plans to open a Megapack battery factory in Shanghai. Mike Gallagher, the Republican chair of the House of Representatives' select committee on China's Communist Party, said he would like to know how Tesla's CEO Elon Musk balances U.S. government support for Tesla and its operations in China. "I'm concerned about this," Gallagher told Reuters when asked about the battery factory. "Tesla seems entirely dependent, A, on the largesse of the federal government via tax breaks, and B, upon access to the Chinese market," Gallagher said. Tesla generated $18.15 billion in revenue from China last year, accounting for over one fifth of its total revenue.

☆ Tesla stock tumbles 5% after the EV maker cuts prices again
▼ + stars: | 2023-04-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Tesla stock fell as much as 5% on Monday following news of more price cuts for electric vehicles. The EV maker announced over the weekend that it will reduce vehicle prices by as much as $5,000. Others are using it to support forecasts that Tesla stock isn't attractive to buy at current levels. Still, earlier price cuts from Tesla helped boost vehicle sales, as it reported a 36% increase in first-quarter deliveries last week. In April so far, Tesla stock has dropped roughly 14%, following the 68%-gain it made through the first three months of 2023.

☆ Elon Musk's big bet on China: Tesla building Megapack battery plant in Shanghai
▼ + stars: | 2023-04-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk's big bet on China: Tesla building Megapack battery plant in ShanghaiHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Sen. John Kennedy, R-La., joins the show to discuss rising tensions between China and the U.S.

☆ Stocks making the biggest moves premarket: Micron, Pioneer Natural Resources, Tesla and more
▼ + stars: | 2023-04-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Pioneer Natural Resources – The stock popped 7% before the bell after the Wall Street Journal reported that Exxon Mobil has held informal talks to acquire Pioneer. Exxon shares fell 0.6%. Tesla – The electric vehicle stock fell nearly 2% before the bell. First Republic – Shares fell more than 3% after the regional bank suspended dividend payments on preferred stock. Taiwan Semiconductor Manufacturing – U.S.-listed shares of the Taiwan-based semiconductor stock fell nearly 1% before the bell after the company reported a monthly drop in revenue.

☆ China investment drowns out decoupling rhetoric
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, April 10 (Reuters Breakingviews) - International companies are reinforcing President Xi Jinping’s message that China is open for business. Japan Display’s (6740.T) shares soared 21% on Monday after the Apple (AAPL.O) supplier said it would provide its OLED technology to China’s HKC. And Europe’s Airbus (AIR.PA) just moved to double capacity in China, agreeing to push ahead with a second China assembly line despite failing to win any new orders during French President Emmanuel Macron’s recent state visit. The new commitments provide a reminder that multinational companies are making – and want to make more – money in the People’s Republic. At least some of the decoupling rhetoric is being drowned out.

☆ Tesla shares faltered Monday. Here’s what investors and analysts say to do next
▼ + stars: | 2023-04-10 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounds up the best trade ideas from investors and analysts on Tesla throughout the day. The pros discussed Tesla after the electric-vehicle maker announced its fifth price cut this year in the U.S. The company also plans to open a new Megafactory in China, capable of producing 10,000 Megapack energy storage units a year . Jim Cramer questioned the cuts, but says it may be due to competition in the Chinese electric vehicle market.

☆ Tesla to build Shanghai factory to make Megapack batteries
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 9 (Reuters) - Tesla Inc (TSLA.O) is opening a factory in Shanghai, capable of producing ten thousand Megapack energy product per year, to supplement output of Megapack factory in California, the company said in a tweet on Sunday. Complementing a huge existing Shanghai plant making electric vehicles, the new factory will initially produce 10,000 Megapack units a year, equal to around 40 gigawatt hours of energy storage, to be sold globally, Xinhua said. Chinese battery giant CATL (300750.SZ) has also been deepening its collaborations with clients including Tesla in energy storage battery supplies, which its Chairman Robin Zeng expected to have a larger market than batteries powering electric vehicles (EV). The company began producing Model 3 cars in Shanghai in 2019 and now is capable of producing 22,000 units of cars per week. Tesla planned to expand the Gigafactory Shanghai, its most productive automaking plant, to add an annual capacity of 450,000 units, Reuters reported last May.

☆ Tesla to Build New China Plant for Energy Storage Battery
▼ + stars: | 2023-04-09 | by ( Rebecca Feng | ) www.wsj.com time to read: 1 min

China is the second-largest market for Tesla after the U.S.Tesla Inc. is building a new factory in Shanghai to produce its Megapack battery, Chinese state media reported Sunday, further expanding into the country at a time of fraught U.S.-China ties. The new factory, where Tesla will manufacture its high-capacity battery for energy storage, is scheduled to break ground in the third quarter this year and kick off production in the second quarter of 2024, Xinhua News Agency reported. The amount of Tesla’s investment wasn’t immediately clear.

☆ Tesla to build Shanghai factory to make Megapack batteries, Xinhua reports
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 9 (Reuters) - Tesla Inc (TSLA.O) will build a factory in Shanghai to make the Megapack energy storage product, Chinese state media outlet Xinhua reported on Sunday. Elon Musk's automaker will break ground on the plant in the third quarter and start production in the second quarter of 2024, Xinhua reported from a signing ceremony in Shanghai. Complementing a huge existing Shanghai plant making electric vehicles, the new factory will initially produce 10,000 Megapack units a year, equal to around 40 gigawatt hours of energy storage, to be sold globally, Xinhua said. Chinese battery giant CATL (300750.SZ) has also been deepening its collaborations with clients including Tesla in energy storage battery supplies, which its Chairman Robin Zeng expected to have a larger market than batteries powering electric vehicles (EV). Tesla planned to expand the Gigafactory Shanghai, its most productive automaking plant, to add an annual capacity of 450,000 units, Reuters reported last May.

☆ Tesla to Build New Megapack Battery Factory in China
▼ + stars: | 2023-04-09 | by ( Rebecca Feng | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/tesla-to-build-new-china-plant-for-energy-storage-battery-aa8a76db

☆ Tesla to Build New China Plant for Energy-Storage Battery
▼ + stars: | 2023-04-09 | by ( Rebecca Feng | ) www.wsj.com time to read: 1 min

China is the second-largest market for Tesla after the U.S.Tesla Inc. is building a factory in Shanghai to produce its Megapack battery, the company and its chief executive, Elon Musk, said, further expanding into the country at a time of fraught U.S.-China ties. The new factory, where Tesla will manufacture its high-capacity battery for energy storage, is scheduled to break ground in the third quarter this year and start production in the second quarter of 2024, Chinese state media Xinhua News Agency reported Sunday. The amount of Tesla’s investment wasn’t immediately clear.

☆ Tesla to Build Factory in Shanghai for Large-Scale Batteries
▼ + stars: | 2023-04-09 | by ( ) www.nytimes.com time to read: 1 min

SHANGHAI — Tesla will build a factory in Shanghai to manufacture its large-scale energy-storage batteries known as the Megapack, the Chinese state news agency Xinhua reported on Sunday. Tesla, which is owned by Elon Musk, will break ground on the plant in the third quarter of this year and start production in the second quarter of 2024, Xinhua reported. The new factory will complement Tesla’s existing plant in Shanghai, where it makes electric vehicles, and it will initially produce 10,000 Megapacks a year, equal to around 40 gigawatt-hours of energy storage, to be sold globally, Xinhua said. With the new plant, Tesla will take advantage of China’s dominant battery supply chain to increase output of its Megapacks, and to lower their costs, in hopes of meeting the rising global demand for energy storage as the world shifts to using more renewable energy.

☆ Tesla to open a new Megafactory in Shanghai, China, company says
▼ + stars: | 2023-04-09 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Tesla will open a new Megafactory in Shanghai, China, that is capable of producing 10,000 Megapacks a year, the company announced in a tweet Sunday. A Megapack is a very large battery that stores energy, helps stabilize the power grid and prevents outages. Tesla currently has a Megafactory in Lathrop, California, that is capable of producing 10,000 Megapacks units each year, according to the company's website. In a tweet Sunday, Tesla CEO Elon Musk said the factory in China will supplement output from the factory in California. Tesla and Musk did not immediately respond to requests for comment.

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