Dec. 26th news, LatePost reports that Tesla has reached an energy storage battery supply agreement with Everbright New Energy. Everbright New Energy's factory in Malaysia is set to start supplying Tesla in the U.S. with energy storage batteries in 2026. It is said that after Tesla expanded its supplier network, CATL remains the largest supplier for Tesla's energy storage business.

Prior to this, Tesla has already reached supply agreements with Panasonic, LG New Energy, CATL, BYD, and Xiwangda. Everbright Energy is the third company to supply Tesla in the U.S. with energy storage batteries, with CATL and BYD being the other two.

It's worth noting that the Tesla Shanghai Energy Storage Super Factory, which began construction on May 23 this year, is nearing completion and is expected to be finished by the end of this year. The factory is set to commence production in the first quarter of 2025, with the output of the ultra-large-scale electrochemical commercial energy storage system, Megapack, reaching 10,000 units, and the energy storage capacity approaching 40 GWh.

Currently, Tesla's energy storage business model involves purchasing battery cells from suppliers, assembling them into complete storage systems, such as Megapack and Powerwall.

Tesla's energy storage business is currently its fastest-growing and most profitable segment. According to the third-quarter financial report, Tesla's energy storage business grew by 52.4% year-over-year, with a gross margin of 30.5% for the segment, 10 percentage points higher than the automotive business's gross margin (19.8%).