Shares in EV maker Tesla (TSLA) were higher today as it defied the U.K. government with a huge expansion in its mega battery services.
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Labour Hell
Tesla boss Elon Musk has been very vocal in his dislike of the current Labour government led by Keir Starmer in the U.K., attending right-wing rallies urging more control on issues such as immigration. This led to energy secretary Ed Miliband urging Musk to “get the hell out of our politics and our country.”
Although Tesla’s U.K car sales have been stuttering in recent months, according to data from Modo Energy it is charging forward on another front – batteries.
As highlighted in the Financial Times, the data shows that Tesla is raking in the highest revenues in the U.K. mega battery supply and battery power-trading market.
Tesla has supplied its Megapack grid-scale battery units to 20 of the 182 battery developments in the U.K. It trades the output from 16 of them making an average £91,364 per megawatt between October 2024 and October 2025. As seen above it is not just in the U.K. where it is making strides on energy storage with overall group numbers surging higher.
Mega Moves
Mega batteries store power generated by large power stations and allos them to discharge it across the grid when supply is scarcer and prices are higher.
As outlined by Modo, Tesla’s success is down to its Autobidder trading software as well as its batteries larger storage capacity.
“The platform is constantly repricing bids and trying to outcompete the competition in a more dynamic, data-driven way,” said Joe Bush, market analyst at Modo.
It is also a strong sign that Musk’s diversification plan is working well for Tesla and its investors. It has branched out into a number of sectors such as energy storage, humanoid robots and insurance, making it far less reliant on its core EV business.
Is TSLA a Good Stock to Buy Now?
On TipRanks, TSLA has a Hold consensus based on 16 Buy, 13 Hold and 10 Sell ratings. Its highest price target is $600. TSLA stock’s consensus price target is $366.35, implying a 17.54% downside.
