COMPANY PROFILE / NEXT-GEN ENERGY STORAGE
Tesla (energy storage business)
Deployed 46.7 GWh of storage in 2025 with Megapack and Powerwall. It mostly buys its cells, and is standing up its own cells and materials
Tesla comes up in discussions of next-generation storage because although it is a carmaker, it has a large deployment volume in grid-scale "Megapack" systems and home "Powerwall" batteries. According to Tesla's annual report (Form 10-K) for 2025 filed with the U.S. SEC, it deployed 46.7 GWh of storage in 2025 (31.4 GWh in 2024), and its energy business had revenue of US$12.771 billion and a gross margin of 29.8%. In April to June 2026, however, gross margin fell to 20.4%. It relies on Panasonic and CATL, among others, for cells, while its own LFP cells, cathode material and lithium refining are at an early stage. This profile leaves out the automotive business and sticks to energy storage, following the 10-K, 10-Q and 8-K filings as written. It is not an assessment of the company's financial condition.
- Tesla in 30 seconds, and where it stands in next-generation storage
- The logo and how the name is written
- Where the company sits in next-generation storage
- Scale
- Resources committed to next-generation storage
- What it has done so far
- What comes next
- What the company is aiming for
- Partnership map
- Technologies, products and services
- The risks this company carries
- Glossary, references and claim-to-source audit
1. Tesla in 30 seconds, and where it stands in next-generation storage
Texas, U.S.Storage manufacturing in several sites in the U.S. and China
(California 40, Shanghai 20)From the company's quarterly update. The Texas plant is commissioning
Tesla is a carmaker that has also become a large operator of storage systems, and this article covers only the energy storage business. Its 10-K divides the business into two segments, "automotive" and "energy generation and storage". For 2025 the energy segment reported revenue of US$12.771 billion (US$10.086 billion in 2024) and gross profit of US$3.802 billion Sourced. But the segment also includes solar generation (Solar Roof and others), and revenue for storage alone is not disclosed. In April to June 2026, energy revenue rose to US$3.139 billion (up 13% year on year), while gross margin fell from 30.3% to 20.4% (the company cites changes in revenue and cost, sales mix and unfavorable warranty adjustments) Sourced. Its 10-K states that it relies on Panasonic and CATL for cells, and its own LFP cell capacity was at an early-ramp stage in July 2026.
2. The logo and how the name is written
A note on naming: the legal name is Tesla, Inc. and the logo is the word "TESLA" (a wordmark). Its storage products are Megapack for businesses and utilities (the next-generation Megapack 3 and the multi-unit Megablock were introduced in 2025) and Powerwall for homes (Powerwall 3 since 2023). The control software is Autobidder for Megapack and Powerhub for distributed energy resources such as Powerwall. The logo image is the one used in the header of the company's official website (tesla.com).
Official website: https://www.tesla.com/megapack3. Where the company sits in next-generation storage
As Fig. 1 shows, Tesla sits in the "pack cells for the grid" type. Megapack is a large system for businesses and utilities, and Powerwall is a battery for homes and small facilities; the 10-K calls both "lithium-ion battery energy storage products" Sourced. Beyond designing and building the systems, Tesla's distinguishing feature is that it owns the power electronics (inverters) and the software for remote control and market optimization. Cells, though, come from Panasonic, CATL and others, and Tesla is also standing up its own cell and materials capacity (LFP cells, cathode material, lithium refining). See also our explainers on grid-scale storage systems, virtual power plants and distributed energy resources, and the economics of storage.
4. Scale
Tesla is a company whose automotive business is large. The company-wide picture is kept brief, and the figures that bear on energy storage come first. All are from statutory filings such as the 10-K and 10-Q Sourced.
| Whole company (year ended December 2025) | Figure |
|---|---|
| Revenue | US$94.83 billion (down US$2.86 billion on the year before) |
| Headcount (31 December 2025) | 134,785 worldwide (the energy segment's headcount is not disclosed) |
| Cash and investments | US$44.06 billion (end of December 2025) |
| Energy generation and storage segment | 2023 | 2024 | 2025 | Apr-Jun 2026 (year earlier) | Jan-Jun 2026 (year earlier) |
|---|---|---|---|---|---|
| Revenue (US$ millions) | 6,035 | 10,086 | 12,771 | 3,139 (2,789) | 5,547 (5,519) |
| Gross profit (US$ millions) | 1,141 | 2,640 | 3,802 | 640 (846) | 1,592 (1,631) |
| Gross margin | 18.9% | 26.2% | 29.8% | 20.4% (30.3%) | 28.7% (29.6%) |
| Depreciation in cost of revenue (US$ millions) | 343 | 377 | 355 | 97 (87) | 192 (170) |
| Storage deployed (company disclosure) | Figure | Source |
|---|---|---|
| 2024 | 31.4 GWh | Reference 2 |
| 2025 | 46.7 GWh (about 49% above 2024 Our calculation: 46.7 / 31.4 - 1) | Reference 1 |
| January to June 2026 | 22.3 GWh | Reference 3 |
| July to September 2026 | 13.7 GWh (about 36.0 GWh for January to September Our calculation: 22.3 + 13.7, adding two separately published figures) | Reference 5 |
The segment figures above include solar generation (Solar Roof, solar panels). Revenue and profit for storage (Megapack and Powerwall) alone are not given in the 10-K Not yet confirmed. The deployment figures (GWh) cover storage products only. Company-wide R&D (US$6.41 billion in 2025) and capital expenditure (expected to exceed US$20 billion in 2026) are, per the 10-K, driven mainly by AI, and the share for storage is not disclosed.
5. Resources committed to next-generation storage
Because company-wide figures are so large, only the parts that can be separated out for storage are shown. For each of the four headings, the table says whether we could confirm it.
| Type of resource | What primary sources confirm | Status |
|---|---|---|
| People | 134,785 across the company (31 December 2025). Headcount for the energy division or for storage R&D is not disclosed. The 10-K says the company has testing and R&D capability in battery cells, packs and systems | Sourced / storage share not disclosed |
| Money | Depreciation in energy cost of revenue was US$355 million in 2025. Energy inventory was US$2.714 billion (end of 2025; US$2.029 billion at end of 2024). Company-wide R&D was US$6.411 billion (2025) and capital expenditure is expected above US$20 billion in 2026 (mainly AI). R&D and capital expenditure for storage alone are not disclosed | Sourced / partly not disclosed |
| Investments, acquisitions, joint ventures, divestments | The 10-K has no record of storage-related investments, acquisitions or joint ventures. As a related party, it does business with Redwood Materials (a battery recycling company affiliated with Tesla's CEO and directors), but says transactions in 2025 and the first half of 2026 were immaterial | Could not confirm / related party immaterial |
| Partnerships and sourcing | Cells are bought from Panasonic and CATL among others (10-K), and the 10-K says it has fully qualified only a very limited number of suppliers and has limited flexibility in changing them. Large storage customers include related parties xAI (US$430 million in 2025) and SpaceX (US$318 million in April to June 2026, US$405 million in January to June) | Sourced |
| Universities, research institutions, public funding | No university collaboration or DOE grant or loan appears in the 10-K or 10-Q we checked. On policy, storage systems qualify for a U.S. federal tax credit of 6% to 50% of qualified spending under Sections 48, 48E and 25D of the Internal Revenue Code (as modified by the IRA and then the OBBBA; company description), claimed by customers or, for systems Tesla owns, by Tesla. Residential credits expired on 31 December 2025, and commercial credits are scheduled to phase out in 2034 or later. State programmes such as California's SGIP are also mentioned | Sourced (company description) / partly not confirmed |
Next, the main product and facility status for storage. Stages and figures are in the wording of the company's quarterly update (July 2026).
| Product / facility | Location | Scale | Stage | Date | Source |
|---|---|---|---|---|---|
| Megapack (Megafactory Lathrop) | Lathrop, California | 40 GWh a year | Production | 22 Jul 2026 | Reference 4 |
| Megapack (Megafactory Shanghai) | Shanghai, China | 20 GWh a year | Production | 22 Jul 2026 | Reference 4 |
| Megapack (new Megafactory) | Near Houston, Texas | Not disclosed | The 10-K says under construction; the July 2026 update says "commissioning" | Jan and Jul 2026 | References 1, 4 |
| Powerwall (Gigafactory Nevada) | Nevada, U.S. | More than 6 GWh a year | Production | 22 Jul 2026 | Reference 4 |
| LFP cell manufacturing | Nevada, U.S. | 7 GWh a year | Early ramp (the update's term). Whether the cells go to storage or vehicles is not stated | 22 Jul 2026 | Reference 4 |
| Cathode material / lithium refining | — (no location given) | 10 GWh-equivalent a year / 30 GWh-equivalent a year | Early ramp | 22 Jul 2026 | Reference 4 |
| Megapack 3 and Megablock | — | — | Introduced in 2025. Megapack 3 production is "on schedule" to start in 2026 (company outlook) | Jan and Jul 2026 | References 1, 4 |
The Megapack page on the company's website says the Lathrop and Shanghai Megafactories have "a total manufacturing capacity of 80 GWh, or 20,000 units, per year". The table in the July 2026 quarterly update, by contrast, gives 60 GWh in total (40 + 20). We could not confirm the reason for the difference. This article mainly uses the quarterly update's figures and notes the website's as a company claim Not yet confirmed.
6. What it has done so far
| When | What happened | Why it matters |
|---|---|---|
| May 2015 | First Powerwall installed (company website) | The start of home storage |
| 2017 | Mass production of Powerwall began at Gigafactory Nevada, with a Tesla-designed DC-to-AC inverter (company website) | Owns its power electronics |
| Sep 2023 | Powerwall 3 released, with an integrated solar inverter | The next home generation |
| 2024 | 31.4 GWh deployed. Energy revenue US$10.086 billion, gross margin 26.2% | A big step up from 2023 (revenue US$6.035 billion, margin 18.9%) |
| 2025 | 46.7 GWh deployed. Megapack 3 and Megablock introduced. Megafactory Shanghai ramped and Lathrop grew; a new Megafactory under construction near Houston. Powerwall installations passed one million | Revenue US$12.771 billion, margin 29.8% (company disclosure). Cost per unit fell on lower raw-material costs and the Shanghai ramp, partly offset by higher tariffs |
| 2025 related-party sales | Sold US$430 million of Megapack to xAI (10-K) | Business with parties affiliated with the company's CEO and directors |
| Apr-Jun 2026 | Energy revenue US$3.139 billion (up 13%), gross margin 20.4% (30.3% a year earlier). Sold US$318 million of Megapack to SpaceX | The company points to more Megapack deployments, a lower average selling price, sales mix and unfavorable warranty adjustments |
| 22 Jul 2026 | Disclosed manufacturing capacity and the status of its own cell and materials facilities in its quarterly update | LFP cells at 7 GWh, cathode at 10 GWh and lithium refining at 30 GWh are in early ramp |
| 2 Oct 2026 | Reported 13.7 GWh of storage deployed in July to September 2026 | Deployments can swing widely from quarter to quarter (company statement) |
7. What comes next
Cathode 10 GWh
Lithium refining 30 GWhEarly ramp (July 2026). The company says it will pursue further vertical integration
in 2026Company-wide outlook (mainly AI). No split for storage
The figures above are the company's targets and outlook, not results Not yet confirmed. The company writes that deployments will depend on demand, supply-chain readiness, and how output is allocated between sales to customers and use in its own fleet of assets (quarterly update, July 2026).
Revenue and profit for storage alone / the capacity and start date of the plant near Houston / product specifications (power, capacity, cell chemistry) and prices for Megapack / how much of its own LFP cells go to storage / a breakdown of deployments by customer or country (apart from related parties) / the reason for the gap between the website's "80 GWh" and the quarterly update's "60 GWh". None appears in the 10-K, 10-Q or 8-K filings we checked.
8. What the company is aiming for in next-generation storage
This section separates what the company says directly from what we infer. Inference marks our own reading of primary information.
| What can be read | Primary information behind it | Status |
|---|---|---|
| It positions storage as a business that answers AI-infrastructure power demand | The 10-K says that as AI infrastructure drives rapid load growth, Megapack helps raise utilization of existing generation and transmission capacity. The website also lists data centers among uses | Sourced (company statement) |
| It is heading toward earning from software, not hardware alone | The 10-K describes remote control and operating optimization through Autobidder (Megapack) and Powerhub (Powerwall), and virtual power plants (VPPs) | Sourced (company statement) / Inference |
| It is moving to build cells and materials in house (less reliance on outside supply) | The 10-K says that in the long term it intends to supplement supplier cells with its own. LFP cell, cathode and lithium-refining facilities are being stood up in 2026 | Sourced (company statement) |
| It recognizes that, for now, it is exposed to demand swings, tariffs and tax rules | The 10-K says the current tariff regime will have a relatively larger impact on the energy business than on automotive | Sourced (company statement) |
| Storage has become one of the profit pillars of the company | Energy gross profit was US$3.802 billion in 2025. It was about 13% of company revenue (12.771 / 94.83) but about 22% of segment gross profit (3.802 / (13.292 + 3.802)) | Our calculation / Inference |
The last row rests on a share we calculated from the 10-K's segment gross profit. In 2025, automotive gross profit was US$13.292 billion and energy US$3.802 billion, so energy was about 22% of the US$17.094 billion total Our calculation. Against roughly 13% of revenue, this suggests energy carries a larger weight in profit than in sales. But gross margin fell to 20.4% in April to June 2026, so that weight may not hold, and the 10-K does not disclose operating profit by segment Not yet confirmed.
9. Partnership map for next-generation storage
The parties that Tesla's statutory filings name in connection with storage are the cell suppliers (Panasonic and CATL) and related-party buyers (xAI, SpaceX) Sourced. Tesla says it sells storage through its website and stores, through channel partners, and, for some commercial customers, through PPAs (power purchase agreements), but the names of large outside customers (utilities and power producers) are not given in the 10-K or 10-Q we checked. Related-party sales were about 3.4% of 2025 energy revenue (4.30 / 127.71) and about 10.1% of April to June 2026 energy revenue (3.18 / 31.39) Our calculation (calculated separately for xAI and SpaceX because we have not checked how they relate).
10. Technologies, products and services
The product figures below are manufacturer's stated values from the company's website and 10-K. Most come without a statement of whether they refer to a cell or a system, or of test conditions. This article does not compare them with other makers' products, rank them, or set figures of differing conditions side by side.
| Item | What the official materials state (manufacturer's stated value) | What we could not confirm |
|---|---|---|
| Megapack | A storage system for businesses and utilities. It ships with battery modules, inverters and thermal systems integrated (website). Several can be grouped into installations of GWh scale (10-K) | Cell chemistry, power and capacity, system efficiency |
| Megapack 3 / Megablock | Next-generation industrial storage products introduced in 2025 (10-K). Megapack 3 production is due to start in 2026 (July 2026 update) | Specifications, prices, the start of shipments |
| Operating record and uptime (company claims) | More than 77 GWh operating, in more than 65 countries. Uptime of 99.3% (the average over the previous 12 months, weighted by GWh for projects that contracted an availability guarantee and have been operating over 30 days). A 20-year warranty and performance guarantees | Results for projects outside the uptime calculation; measured degradation |
| Safety (company claims) | Designed as a single vertically integrated system with hardware and controls that reduce fire risk, and meets over 40 global safety requirements (website) | The list of requirements; certificates and test reports (standard names and versions) |
| Powerwall 3 | A home battery. Energy capacity of 13.5 kWh (specification field on the website). Integrated solar inverter. More than one million installed (2025) | Other items in the specification field (we could not read it in full) |
| Control software | Autobidder (operation and market optimization for Megapack) and Powerhub (distributed energy resources such as Powerwall, and virtual power plants). Functions are extended through firmware updates (10-K) | A breakdown of software revenue |
Tesla's storage rests on system design that integrates modules, inverters, thermal systems and controls, with the cells themselves bought in Sourced. The 10-K describes the storage products only as "lithium-ion" and does not name the cell chemistry. The July 2026 update, however, lists LFP cell capacity (Nevada, 7 GWh a year), cathode material (10 GWh-equivalent a year) and lithium refining (30 GWh-equivalent a year) as early ramp Sourced. From the materials side, stationary cells prize cost, life and resistance to thermal runaway, and lithium iron phosphate (LFP), which uses neither nickel nor cobalt, is known as a chemistry that fits those needs Not yet confirmed (a general statement, not a description of Megapack's cell chemistry). Moving closer to in-house cathode material and lithium refining is likely meant to raise cost and supply freedom from raw material to cell Inference. But facilities in early ramp tend to face issues of purity, yield and stable volume production, and 7 GWh of cell capacity set against 46.7 GWh of storage deployed in 2025 is only a part (the units differ, so the two cannot be compared directly). See our explainers on cathode materials, battery materials resources and sourcing, thermal runaway and battery safety, and battery management systems.
11. The risks this company carries
| Risk | Detail | Status |
|---|---|---|
| Reliance on cell supply | It relies on Panasonic, CATL and others, has qualified only a very limited number of suppliers, and has limited flexibility to change. If supply is interrupted it may have to curtail vehicle and storage production, the 10-K says. It also says its own-cell targets may not be met on schedule or at all | Sourced |
| Tariffs | The 10-K says the current tariff regime will have a relatively larger impact on energy storage than on automotive, and that import tariffs and OBBBA provisions could significantly increase battery cell expenses. Higher tariffs are included in the 2025 cost of revenue | Sourced |
| Tax credits and proof of origin | Complying with the OBBBA requires traceability of the origin of critical minerals. If suppliers cannot document it, products may lose eligibility for tax credits, raising the effective price to customers (10-K). Residential credits expired at the end of 2025 | Sourced (company description; we have not checked the text of the law) |
| Margin swings | Gross margin was 29.8% in 2025 and 20.4% in April to June 2026. The company cites sales mix and unfavorable warranty adjustments. The average selling price of Megapack is also falling | Sourced |
| Quarter-to-quarter swings in deployments | They vary widely with project milestones and logistics (10-K). Take care when comparing the April to June and July to September 2026 deployments, for example | Sourced |
| Sales to related parties | US$430 million to xAI in 2025, and US$318 million to SpaceX in April to June 2026 (about 10% of energy revenue). The company says these are in the ordinary course of business under its related-person transactions policy | Sourced / Our calculation |
| Storage profitability not visible | The segment includes solar, and revenue, profit, headcount and investment for storage alone are not disclosed | Not yet confirmed |
| Incidents and safety | The 10-K lists, as a general risk, that mishandling of battery cells could cause safety issues or fires that disrupt operations and harm the brand and business. This article does not discuss the cause of any individual incident (outside the scope of official investigation reports) | Sourced (general risk) |
| Competition | Competition from other manufacturers, developers, installers and large utilities. Falling retail or wholesale electricity prices could make its products less attractive (10-K) | Sourced |
This article is an overview of a company. It is not advice on battery safety or installation. Installing and operating a storage system follows the laws, standards and authorities of the relevant country or locality, and the manufacturer's instructions.
12. Glossary
- Megapack / Megablock
- Tesla's storage system for businesses and utilities / the next-generation industrial product that groups several units (introduced in 2025).
- Powerwall
- Tesla's battery for homes and small facilities.
- Autobidder / Powerhub
- Software that optimizes operation and power trading for Megapack / software that coordinates distributed energy resources such as Powerwall.
- Megafactory
- Tesla's name for its storage-system (Megapack) factories.
- GWh
- Gigawatt-hour, a unit of energy (1 GWh = 1,000 MWh).
- LFP
- Lithium iron phosphate: a cathode material that uses neither nickel nor cobalt.
- Segment
- A unit into which a company divides its business for disclosure. Tesla has two: "automotive" and "energy generation and storage".
- Related party
- A counterparty connected to a company's executives or directors. Transactions with them are specially disclosed.
- OBBBA / IRA
- The 2025 U.S. tax and spending law / the 2022 Inflation Reduction Act. Both bear on storage tax credits (as described in the 10-K).
- 10-K / 10-Q / 8-K
- The annual / quarterly / current reports that U.S.-listed companies file with the SEC.
13. References
- Tesla, Inc. Form 10-K for the fiscal year ended December 31, 2025 (filed with the U.S. SEC on 29 January 2026). Segments (automotive; energy generation and storage), energy storage products, 2025 storage deployments, segment revenue and gross profit, cell suppliers, tariffs and tax credits, headcount, related-party transactions. https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm
- Tesla, Inc. Form 10-K for the fiscal year ended December 31, 2024 (filed 30 January 2025). Storage deployments of 31.4 GWh in 2024. https://www.sec.gov/Archives/edgar/data/1318605/000162828025003063/tsla-20241231.htm
- Tesla, Inc. Form 10-Q for the quarterly period ended June 30, 2026 (filed 23 July 2026). First-half 2026 energy storage deployments, revenue and gross profit; Megapack sales to a related party (SpaceX). https://www.sec.gov/Archives/edgar/data/1318605/000162828026049270/tsla-20260630.htm
- Tesla, Inc. Form 8-K of 22 July 2026, Exhibit 99.1, "Second Quarter 2026 Update". Manufacturing capacity for Megapack and Powerwall, battery cell and materials facilities, outlook for Megapack 3. https://www.sec.gov/Archives/edgar/data/1318605/000162828026049213/exhibit991.htm
- Tesla, Inc. Form 8-K of 2 October 2026, Exhibit 99.1, "Third Quarter 2026 Production, Deliveries & Deployments". Storage deployments of 13.7 GWh in July to September 2026. https://www.sec.gov/Archives/edgar/data/1318605/000162828026064366/exhibit991111111.htm
- Tesla, Inc. Company website, "Megapack" page. The company's statements on cumulative operation, uptime, the 20-year warranty and Megafactory capacity. https://www.tesla.com/megapack
- Tesla, Inc. Company website, "Powerwall" page. Cumulative installations, history (first installation in 2015 to one million units in 2025), and the specification field. https://www.tesla.com/powerwall
14. Claim-to-source audit
| Claim in the text | Status | Source |
|---|---|---|
| Legal name, headquarters (Austin, Texas), listing (Nasdaq: TSLA), headcount of 134,785, and company-wide revenue | Sourced | Reference 1 https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm |
| The two segments; revenue, gross profit and margin of the energy generation and storage segment (2023 to 2025); depreciation; energy inventory | Sourced | Reference 1 https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm |
| Storage deployments of 46.7 GWh in 2025 and 31.4 GWh in 2024 | Sourced | Reference 1 https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm Reference 2 https://www.sec.gov/Archives/edgar/data/1318605/000162828025003063/tsla-20241231.htm |
| January to June 2026 energy revenue, gross profit and margin, deployments of 22.3 GWh, and Megapack sales to a related party (SpaceX) | Sourced | Reference 3 https://www.sec.gov/Archives/edgar/data/1318605/000162828026049270/tsla-20260630.htm |
| Storage deployments of 13.7 GWh in July to September 2026 | Sourced | Reference 5 https://www.sec.gov/Archives/edgar/data/1318605/000162828026064366/exhibit991111111.htm |
| Capacity for Megapack and Powerwall (Lathrop 40 GWh, Shanghai 20 GWh, Nevada Powerwall over 6 GWh, Texas commissioning), LFP cells 7 GWh, cathode 10 GWh, lithium refining 30 GWh, and the Megapack 3 outlook | Sourced | Reference 4 https://www.sec.gov/Archives/edgar/data/1318605/000162828026049213/exhibit991.htm (company materials; capacity is installed capacity, not actual output) |
| Construction of the new Megafactory near Houston, the 2025 introduction of Megapack 3 and Megablock, cell suppliers (Panasonic and CATL), and the statements on tariffs, tax credits and origin tracing | Sourced | Reference 1 https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm |
| Megapack operating record (over 77 GWh, over 65 countries, 99.3% uptime, 20-year warranty), the 80 GWh (20,000 units) capacity on the website, and safety claims | Sourced | Reference 6 https://www.tesla.com/megapack (company claims) |
| Powerwall history (first installation in 2015, mass production in 2017, Powerwall 3, one million units) and 13.5 kWh | Sourced | Reference 7 https://www.tesla.com/powerwall (manufacturer's stated values) |
| Related parties (xAI at US$430 million; Redwood Materials immaterial) | Sourced | Reference 1 https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm |
| Year-on-year growth in deployments (about 49%) and the January to September 2026 total (about 36.0 GWh) | Our calculation | our calculation: 46.7 / 31.4 - 1 and 22.3 + 13.7 |
| The energy business's share of company revenue and gross profit (about 13%, about 22%) and related-party sales as a share of energy revenue (about 3.4%, about 10.1%) | Our calculation | our calculation from figures in the 10-K and 10-Q; xAI and SpaceX calculated separately because their relationship is unchecked |
| Revenue, profit, headcount, R&D and capital expenditure for storage alone; Megapack cell chemistry, specifications and prices; capacity and timing of the plant near Houston | Not yet confirmed | Not in the 10-K, 10-Q or 8-K we checked; this article does not estimate them (items we could not confirm) |
| Storage-related investments, acquisitions, joint ventures, university collaborations, DOE grants or loans | Not yet confirmed | Not in the disclosures we checked; this article does not claim that none exist (limit of our check) |
| The reason for the gap between the website's 80 GWh and the quarterly update's 60 GWh | Not yet confirmed | Not confirmable from official materials; this article does not guess (outlook) |
| Megapack 3 production starting in 2026, the deployment outlook, and capital expenditure above US$20 billion | Not yet confirmed | Reference 4 https://www.sec.gov/Archives/edgar/data/1318605/000162828026049213/exhibit991.htm Reference 1 https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm a company outlook, not a result |
| Reading that it positions storage around AI infrastructure, software revenue and in-house cell materials | Inference | Reference 1 https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm our interpretation of the 10-K |
| Reading that the aim of in-housing cathode and lithium refining is cost and supply freedom, and the general statement that LFP suits stationary use | Not yet confirmed | our own explanation (general statement, not a description of Megapack's cell chemistry) |
Last updated: 10 October 2026 / Troy Technical
The figures in this article come from the statutory filings (Forms 10-K, 10-Q and 8-K) that Tesla, Inc. submitted to the U.S. Securities and Exchange Commission, and from the company's website. Market-research estimates and press-report-only figures are not used. This is not an assessment of the company's financial condition. Passages marked "Inference" are our own reading of primary information and are not statements by the company.