Latest news with #Powerwall
Yahoo
18-07-2025
- Automotive
- Yahoo
Tesla shakes automotive world with announcement regarding major US facility: 'Nearing completion'
Tesla is moving closer to opening its first lithium iron phosphate (LFP) battery factory in the United States. The company recently posted a video on X of the factory, located in Sparks, Nevada. In the caption, Tesla said it is "nearing completion" of the facility, which Not a Tesla App reported will manufacture battery cells for Tesla energy projects such as Megapack and Powerwall. LFP batteries are growing in popularity, with manufacturing plants starting to pop up across the globe. Unlike other common batteries, LFPs don't use nickel or cobalt, which makes them lighter, less expensive, and less likely to catch fire. And because those metals don't need to be mined, producing LFP batteries is also a more eco-friendly process. Previous incarnations of LFP batteries weren't powerful enough to replace other battery types, but recent improvements have made them viable alternatives. Until now, Tesla has used Chinese suppliers for LFP battery cells. Plans for the Nevada factory were originally leaked in early 2024, and the company confirmed them during its first-quarter earnings call this year while also discussing the importance of energy storage to the company's future. "The importance of this business … is pretty profound," Tesla CFO Vaibhav Taneja said during that call. "In order for grids to work properly with the demands from AI, you need some more stability." Domestic production of LFP batteries has the potential to be a game-changer, not just for projects like Megapack and Powerwall, but also for electric vehicles. If battery costs come down significantly, cars will also become more affordable, which could put more EVs on the road instead of polluting, gas-powered vehicles. That would be welcome news for Tesla, which has seen its sales numbers drop significantly this year. The type of energy used to charge batteries can also have a huge impact on EV ownership costs. Using home-based solar energy, for example, is considerably cheaper than paying for energy from the grid or using public charging stations. To amplify those savings, EnergySage offers a free tool that enables consumers to compare quotes from local, verified solar panel installers while saving up to $10,000 on installation costs. Would you buy an EV if it only took 5 minutes to charge? Sign me up No way Depends on the cost Depends how much range it has Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
11-07-2025
- Business
- Time of India
Elon Musk hit by mass resignations: Why his CEO Linda Yaccarino and 14 other executives may have just quit
Linda Yaccarino has stepped down as CEO of Elon Musk 's social media platform, X, after just over two years in the role. Her departure comes amid growing chaos in Musk's business empire, where politics, controversy, and high-level exits are becoming a pattern. Yaccarino's resignation marks the latest in a string of high-profile departures. Fourteen other senior leaders from Tesla , SpaceX , and X have left their roles in the past 12 months. As Musk increasingly intertwines his corporate ventures with political ambitions, industry watchers are raising questions about his ability to retain top talent. Linda Yaccarino's exit and the growing turmoil at X Yaccarino took over as CEO of X (formerly Twitter) in June 2023, after serving as global chair of advertising and partnerships at NBCUniversal. She was brought in to reassure advertisers and stabilize the platform after Musk's takeover sent many brands fleeing. Her exit was sudden and largely unexplained. In her farewell message, she thanked Musk for entrusting her with the mission of turning X into the "Everything App" and upholding free speech. However, her departure signals deepening instability at X, where internal tensions, advertiser exodus, and falling user trust continue to plague the platform. Who else left Elon Musk and why? Profiles of the 14 departing executives Omead Afshar – former head of Tesla sales (North America & Europe) Afshar was one of Musk's most trusted lieutenants, overseeing major regional sales and playing a pivotal role in strategic operations. He was also considered Musk's proxy during his brief political tenure as DOGE Chief. Afshar's departure in June 2025 was reportedly due to internal disagreements over Tesla's new market strategy and Musk's increasing focus on politics. Jenna Ferrua – director of human resources, Tesla Ferrua worked at Tesla for over seven years, managing workforce expansion, policy restructuring, and talent development. She played a critical role during the company's major hiring surges and internal reorganizations. She left in June 2025, amid growing tensions between executive teams and Musk's direct involvement in HR decisions. Milan Kovac – head of the Optimus robot program, Tesla As the lead engineer behind Tesla's humanoid robot initiative, Kovac was credited as the visionary behind Musk's dream of a trillion-dollar robotics empire. He resigned in June 2025 after reported delays and funding conflicts in the Optimus development timeline. Vineet Mehta – head of battery architecture, Tesla Mehta spent 18 years at Tesla, overseeing its lithium-ion and next-gen battery platforms. He was instrumental in designing the battery systems for the Model S and Cybertruck. His exit in May 2025 raised concerns over the future of Tesla's innovation in battery technology. Mark Westfall – head of mechanical engineering, Tesla Energy Westfall was with Tesla for over a decade, focusing on solar power products and the Powerwall battery storage systems. His departure in April 2025 came as Tesla Energy was undergoing a strategic shift, cutting back on some renewable projects to focus more on AI integration. David Lau – VP of software engineering, Tesla A veteran of Tesla's autopilot and user interface teams, Lau was deeply involved in the development of Full Self-Driving software. He left in April 2025 after 12 years at the company, reportedly due to a reshuffling of the software division and executive disagreements. Tom Ochinero – VP of commercial sales, SpaceX One of the longest-serving business leaders at SpaceX, Ochinero led commercial launch contracts and satellite deals with international clients. His February 2024 exit was viewed as a major blow to SpaceX's global partnerships. Nick Pickles – VP of global affairs, X Pickles spent nearly a decade shaping public policy at Twitter/X. He helped navigate the company through misinformation controversies and regulatory battles. He stepped down in September 2024, citing burnout and shifts in platform direction under Musk. Renato Leite Monteiro – global data protection officer, X Monteiro led X's global data privacy efforts. A recognized expert in digital rights, he left in September 2024 to take personal time off. Insiders say the platform's reduced emphasis on privacy and increasing legal battles influenced his decision. David Zhang – program manager for Cybertruck & Roadster, Tesla Zhang managed Tesla's most futuristic vehicles — the long-delayed Roadster and Cybertruck. He exited in July 2024 after internal project delays and conflicts over vehicle specs and timelines. Joe Benarroch – head of operations, X Brought in to restructure the company during mass layoffs, Benarroch helped stabilize day-to-day operations post-Musk acquisition. He quit in June 2024, citing strategic misalignment with Musk's vision for the platform. Brett Weitz – head of content & brand, X Formerly a TV executive, Weitz spearheaded the Originals documentary-style content initiative. His departure in June 2025 came after failed attempts to scale premium content on the platform. Dave Heinzinger – head of media strategy, X Heinzinger lasted only four months in his role, quitting in March 2025 due to personal reasons, but many believe it was linked to content moderation controversies. Haofei Wang – head of product engineering, X Wang was one of Musk's closest technical confidants at X and acted as a bridge between Musk and the engineering team. He left in March 2025 reportedly due to mounting pressure and constant strategic pivots. AI Masterclass for Students. 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Yahoo
02-07-2025
- Business
- Yahoo
Tesla's energy storage business gets sucked into the company's downward spiral
Even Tesla's energy storage business, which has been a small, yet notable bright spot, can't escape the cloud that's hanging over the company. For the second consecutive quarter, deployments of its Powerwall and Megapack stationary storage products have declined, according to stats released by Tesla. In the second quarter of this year, the company installed 9.6 gigawatt-hours of storage, down 0.8 gigawatt-hours from the first quarter. Tesla's energy storage division peaked in the fourth quarter of 2024, a three-month period that saw 11 gigawatt-hours deployed. In all, Tesla deployed 31.4 GWh of energy storage products in 2024. Until this year, the sector has been a bright spot for Tesla, posting consistent year-over-year growth. Revenue from energy storage and solar installations grew from $2 billion in 2020 to $10.1 billion last year. Tesla's poor start to the year suggests that streak is about to come to an end. By contrast, the broader market for energy storage has been growing recently. Analysts at Wood Mackenzie said new installations hit a record high in Q1, the most recent period for which data is available, growing by 57% year-over-year. Such growth is unlikely to continue, though, as tariffs on Chinese-made goods coincide with the ill-effects of a Trump-backed reconciliation bill currently being hashed out in Congress. There, Republicans have been working to eliminate key parts of the Inflation Reduction Act. While battery storage installations might continue to receive tax credits under the bill, new restrictions over parts or materials sourced from foreign entities of concern (FEOC) could make any remaining tax credits nearly impossible to claim. The vast majority of minerals used in batteries are refined or processed in China.
TechCrunch
02-07-2025
- Business
- TechCrunch
Tesla's energy storage business gets sucked into the company's downward spiral
Even Tesla's energy storage business, which has been a small, yet notable bright spot, can't escape the cloud that's hanging over the company. For the second consecutive quarter, deployments of its Powerwall and Megapack stationary storage products have declined, according to stats released by Tesla. In the second quarter of this year, the company installed 9.6 gigawatt-hours of storage, down 0.8 gigawatt-hours from the first quarter. Tesla's energy storage division peaked in the fourth quarter of 2024, a three-month period that saw 11 gigawatt-hours deployed. In all, Tesla we deployed 31.4 GWh of energy storage products in 2024. Until this year, the sector has been a bright spot for Tesla, posting consistent year-over-year growth. Revenue from energy storage and solar installations grew from $2 billion in 2020 to $10.1 billion last year. Tesla's poor start to the year suggests that streak is about to come to an end. By contrast, the broader market for energy storage has been growing recently. Analysts at Wood Mackenzie said new installations hit a record high in Q1, the most recent period for which data is available, growing by 57% year-over-year. Such growth is unlikely to continue, though, as tariffs on Chinese-made goods coincide with the ill-effects of a Trump-backed reconciliation bill currently being hashed out in Congress. There, Republicans have been working to eliminate key parts of the Inflation Reduction Act. While battery storage installations might continue to receive tax credits under the bill, new restrictions over parts or materials sourced from foreign entities of concern (FEOC) could make any remaining tax credits nearly impossible to claim. The vast majority of minerals used in batteries are refined or processed in China.
Business Times
30-06-2025
- Business
- Business Times
Australia launches A$2.3 billion plan to boost home batteries
[SYDNEY] Australia started a A$2.3 billion (S$1.9 billion) programme to encourage households to buy batteries in an effort to absorb excess renewable energy and curb price swings in one of the world's most volatile power markets. The programme cuts the upfront cost of installing a household battery by about 30 per cent, provided that the system is connected to solar panels. The discount rate will be reviewed at least annually and gradually decrease until 2030. The government hopes that offsetting some of the relatively high upfront cost of batteries will allow it to tap a world-leading uptake of solar by its citizens – about a third of households had panels in 2024, but only one in 40 of those had storage. It would also help alleviate dramatic price swings that make Australia's electricity market one of the most volatile, with wholesale power rates regularly dropping below zero when solar generation peaks around noon, before spiking after sunset. 'Growth in battery adoption will help Australia smooth its increasingly volatile power market, and allow greater integration of renewables,' said Leonard Quong, head of Australian research at BloombergNEF. 'Small-scale battery deployments have failed to keep pace with rooftop solar installations, weighed down by stubbornly high up-front costs and a lack of policy support.' The incentives are likely to drive a boom in sales in the near-term by customers wanting to take full advantage before the incentives wind down, according to Quong. That will be welcome news for producers such as Tesla, whose local head last month said that Australia was the first, and so far only, country with more Powerwall household batteries than Tesla electric vehicles. It could well be profitable for households, which in a worst-case scenario are forced to curtail solar output, with several electricity retailers offering customers free power around noon, or even paying them to use it. Wholesale prices were negative 20 per cent of the time across the National Electricity Market, which covers about four-fifths of Australia's power use, in the second half of 2024, according to BloombergNEF. While the incentive will accelerate battery ownership among households, it won't help increase the resilience of energy-intensive industries trying to manage the risks of the renewable transition, said Anita Stadler, head of Renewable Energy Investments at consultant ERM Energetics. Some of those risks include increasing breakdowns linked to an ageing fleet of coal-fired power plants that still supply most of Australia's power. To help meet some of the shortfall, the government has set an ambitious target for 82 per cent of power generation to come from renewables by 2030, from about 40 per cent last year. 'We already generate an excess of clean, reliable, renewable energy from Australia's abundant sun and wind,' Greg Bourne, an energy expert at the Climate Council, said in a June report that showed the price of batteries has declined 86 per cent since 2013. 'Batteries will help soak it all up and put it to good use during periods of high demand.' BLOOMBERG
