Tesla Inc. is celebrating a major victory at its Gigafactory in Nevada, achieving a record-breaking production run of 1,000 Powerwall energy storage devices in a single day. This impressive feat was announced on Tuesday, highlighting the company’s relentless pursuit of expanding its energy generation and storage capabilities.
“Congrats to the Tesla Nevada team on building 1000 Powerwalls in a single day,” Tesla proudly declared on its official X account dedicated to updates on its energy sector. CEO Elon Musk also joined in the celebrations, recognizing the team’s hard work and the impact of this achievement. “Congratulations Tesla Powerwall team! These will make a big difference around the world.”
The Powerwall, a powerful home battery that stores solar energy for use during power outages, plays a key role in Tesla’s expanding energy portfolio. The company has previously boasted the capacity to manufacture a Powerwall 3, the latest iteration of the product, every 25 seconds, translating to an impressive annual production capacity of over 700,000 units.
Tesla’s Nevada Gigafactory is a hub for various manufacturing operations, producing electric motors, vehicle powertrains, and batteries alongside its energy storage products. The company has ambitious plans to further expand the factory with a 100 GWh 4680 cell factory and a dedicated high-volume Tesla Semi factory.
This milestone underscores the significant growth in Tesla’s energy generation and storage business. In the third quarter of 2023, the company’s energy generation and storage revenue reached $2,376 million, showcasing a remarkable 52% increase compared to the same period in the previous year. This segment also achieved a record gross margin of 30.5%, and the Powerwall product witnessed record deployments.
Tesla’s energy storage offerings extend beyond the Powerwall, encompassing the powerful Megapack battery. The company operates a Megafactory in Lathrop, California, with the capability to produce 10,000 Megapack units annually. A new Megafactory in Shanghai is also under construction, expected to begin shipping Megapacks in the first quarter of 2025.
Tesla has ambitious plans for the future of its energy storage business. The company anticipates deploying more than double the amount of energy storage deployed in 2023, exceeding 29.4 GWh in 2024. The 1,000 Powerwalls built in a single day at the Nevada Gigafactory represents a significant step towards achieving these goals, solidifying Tesla’s position as a leading player in the rapidly expanding renewable energy landscape.
