TapTechNews June 7th, according to Shell Finance. Recently, there are rumors that BYD's subsidiary Fudi Battery has reached a supply agreement with Tesla for the Shanghai energy storage plant and plans to supply energy storage cells to Tesla in the first quarter of next year. Tesla responded today that the above news is not true.
Yesterday, some media reported that BYD's subsidiary Fudi Battery had reached a supply agreement with Tesla for the Shanghai energy storage plant in March this year and will supply energy storage cells to Tesla in the 'first quarter of next year'.
Previous news also mentioned that Tesla's auto sales showed the first year-on-year decline in 15 quarters in the first quarter of this year, and the energy storage system has become a new growth point for Tesla. In the first quarter of this year, Tesla's power generation and energy storage business revenue was 1.635 billion US dollars (TapTechNews note: currently about 11.852 billion Chinese yuan), an increase of 7% year-on-year. Musk said in the earnings call of the third quarter of last year that in the long run, Tesla's energy business will be larger than the automotive business.
The energy storage business is also the fastest-growing business of the entire BYD Group at present. According to official information from Fudi, Fudi's energy storage battery sales reached 28.4 GWh last year, with a year-on-year growth rate of more than 136%, which is more than twice the growth rate of BYD's car sales.
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