326 Megapack Batteries Spotted at Tesla’s Lathrop Megafactory

During the fourth quarter and full year 2023 earnings call, Tesla executives highlighted that the growth of Tesla’s energy storage business would outpace the growth of the company’s automotive division this year. A lot of this growth would be due to the Megapack battery, Tesla’s flagship energy storage product.

The Tesla Megapack battery is the company’s largest energy storage system. Without installation charges, the 2-hour Megapack is priced at $1,278,860 and the 4-hour variant is priced at $1,227,090. Tesla’s estimated annual maintenance cost for the Megapack battery is $8,830, with the cost rising 2% per year.

According to a recent drone flyover from Tesla watcher *, it appears that the Lathrop Megafactory is currently hard at work producing the grid-scale batteries at scale. Tesla watchers estimate that the batteries in the facility’s holding lots are likely worth over $500 million.

Tesla CFO Vaibhav Taneja stated that the company’s energy storage business is also seeing a rise in revenue during the Q4 and FY 2023 earnings call. He mentioned, “Our energy storage business had another record year with deployments more than doubling and revenues increasing by more than 50%. This business is poised to again surpass our auto business in terms of growth rate in 2024. This has been in the works for quite some time with us laying the foundation a few years back by building our Mega Factory in Lathrop.”

Watch a recent drone flyover of Tesla’s Lathrop Megafactory in the video below. *Don’t hesitate to contact us with news tips.

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