Tesla Results Presentation Deck
11
OTHER HIGHLIGHTS
Energy Storage
Energy storage deployments decreased sequentially in Q4 to 3.2 GWh, for a total
deployment of 14.7 GWh in 2023, a 125% increase compared to 2022. While we
expect deployments will continue to be volatile on a sequential basis, impacted by
logistics and the global distribution of projects at any given time, we expect
continued growth on a trailing twelve-month basis going forward. We continue to
ramp our 40 GWh Megafactory in Lathrop, CA toward full capacity.
Solar
Solar deployments declined on a sequential and YoY basis to 41 MW. Downward
pressure on solar demand continued into Q4 as interest rates have remained
high. Profitability in the quarter was negatively impacted by lower deployments and
seasonal weakness in solar energy generation.
Services and Other business
The Services and Other business continued to grow alongside our fleet in 2023,
achieving record revenue and gross profit generation. The biggest drivers of profit
generation in 2023 were part sales, used vehicle sales, merchandise sales and pay-
per-use supercharging. As our fleet continues to expand in the coming years, ere
is an opportunity for fleet-related services to become a more meaningful driver of
profit generation.
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