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China’s largest supplier of electric vehicle (EV) cells, CATL, is starting to produce batteries for power grids. Supplier Tesla wants to develop and operate green energy grids for mines, cities and data centers.
In an an interviewCATL founder Robin Zeng commented that zero-carbon electricity grids could be ten times the size of electric vehicle batteries. At the time of writing, CATL has a 37% share of the global EV battery market.
Zeng has targeted a new sector for CATL’s future.
Tesla has already shown that entering the energy market can be profitable. Musk has long predicted that Tesla’s energy business would eventually overtake the company’s automotive division. Tesla Energy lives up to Musk’s expectations. In the third quarter of 2024, Tesla’s energy department reported arrecord gross return of 30.5%.
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