Tesla (TSLA), the leading EV maker in the United States, has a clean energy business that could become the company’s secret growth machine in the next decade. Under this business segment (known as Energy Generation and Storage), Tesla sells energy storage products and solar energy systems to customers, capitalizing on the growing demand for renewable energy products.
Since its founding in 2015, Tesla’s energy business has grown into a $3 billion business today, and the company is aggressively expanding it in key global markets such as China to gain long-term competitive advantages on a global scale. I am bullish on the outlook for Tesla as I believe the company is well-positioned to grow in the next decade.
The Booming Energy Business
In Q2, Tesla’s energy storage deployments reached an all-time high of 9.4 GWh, a year-over-year (YoY) increase of 158%. On the back of record deployments, Energy Generation and Storage…
