Tesla's first quarter 2025 results announced

Tesla's energy storage business installed 10.4GWh of new capacity in the first quarter of 2025, up 156.6% year-on-year, although down slightly from the previous quarter. This is mainly due to the commissioning of the Shanghai Energy Storage Super Factory, which started production on February 11, 2025 and is expected to have an annual production capacity of 40GWh. However, as the Shanghai factory has not yet fully released its production capacity, the installed capacity in this quarter fell by 5.6% from the previous quarter. Tesla predicts that its energy storage business will achieve growth of more than 50% in 2025.