Tesla's Energy Storage Business Is Quietly Growing at Triple-Digit Rates. Is This the Company's Next Growth Engine?
While most investors are focused on Tesla's electric cars, the company's fastest-growing product category is hiding in plain sight.
After years of being viewed as an intriguing side project, Tesla's (NASDAQ: TSLA) energy business is starting to look like the electric-car company's most underappreciated growth engine. In 2024, energy storage deployments surged, and gross profit from the segment hit new highs. And momentum hasn't slowed. Based on Tesla's first-quarter 2025 results, the division is on pace for another record-breaking year.
For investors still focused solely on Tesla vehicles like its best-selling Model Y and flashy Cybertruck, it may be time to widen the lens.
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