Tesla Q1 Revenue Surges
In Q1, Tesla’s automotive revenue, the company’s core segment, rose to $19.96 billion, marking an 18% increase from the previous year. Total revenue saw a 24% uptick during the same period.
Meanwhile, Tesla Energy revenue surged to $1.53 billion, a 148% YoY increase, driven by the deployment of energy storage systems. The company noted a 360% surge in lithium-ion battery-based energy storage systems, including the Powerwall home backup battery and the Megapack utility-scale system, which help utilities store and utilize renewable energy from sources like solar and wind.
Tesla Slashes Vehicle Prices
Tesla reduced prices of its vehicles in Q4 2022 and Q1 2023, with further cuts introduced on Tuesday night. Despite this, the company is pursuing ambitious expansion plans and increasing capital expenditures. Currently, Tesla produces four EV models across two assembly…
Read More