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Elon Musk thinks Tesla energy could be 'bigger' than Tesla EV business

Elon Musk predicts Tesla energy business will bigger than its electric vehicle business

By Anthony Garreffa from Oct 24, 2019 @ 23:14 CDT

Elon Musk thinks that Tesla's energy business could one day be the same size as, or if not bigger than the electric car business Tesla is known for (at least for now).

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During a recent earnings call by Tesla Motors, CEO Elon Musk said in relation to Tesla's energy business compared to the electric vehicle business: "It could be bigger, but it will certainly be of a similar magnitude".

Tesla keeps the numbers of its energy business close to its chest, but out of the $6.3 billion that Tesla made in Q3 2019 -- $5.35 billion came from its automotive revenues. This includes the sales of the Tesla Model S, Model X, and Model X electric vehicles.

Given that there's roughly another $1 billion there, the energy business could be doing very well. If Musk is pumping it up for the right reasons, Tesla could see the light (pardon the pun) with its energy business going forward.

On top of that, Tesla had to grind hard rhoguh diverting resources to the Model 3 electric vehicle, with its energy and solar businesses left out to dry in this time. Now imagine that the right amount of resources, energy cells, and money was being poured into Tesla's energy business?

It would have more power to dominate with its home Powerwall and commercial Powerwall energy storage products. Musk explained: "We had to do it because if we didn't solve the Model 3, Tesla wouldn't survived. So, unfortunately that shorted other parts of the company".

But that all changes now, with Tesla's energy business seeing some serious moves with Kunal Girotra joining Tesla in 2015 as a senior product manager on Powerwall -- recently, Girotra was promoted into a senior director role of Tesla's energy business.

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