Tesla's recent earnings report revealed a sharp decline in net income and car sales, amidst turmoil linked to CEO Elon Musk. While the company reported a significant 67% revenue increase in its energy generation and storage business, overall earnings were disappointing. The automaker's CFO warned that Trump's tariffs on China could pose serious risks to the energy segment, despite its current success, as battery cell sourcing relies heavily on imports from China. Investor sentiments highlight the contrasting fortunes of the energy division against Tesla's core vehicle sales woes.
"Looks like energy storage saved some pretty dismal numbers from Tesla," wrote Tesla investor Ross Gerber in a post on X.
"The impact of tariffs on the energy business will be outsized since we source LFP battery cells from China," said Taneja.
Collection
[
|
...
]