In May 2015, Musk announced Tesla Energy, expanding the company's capabilities into a new reporting segment, now called energy generation and storage. The two inaugural products were a home battery and a grid battery. The new batteries build out the concept of electric storage.
Tesla confirmed that it quietly acquired Colorado-based battery startup SiILion, Inc., in a new patent for a silicon-based battery anode.
NOVONIX is a battery materials and technology company, enabling an electrified future for electric vehicles and grid energy storage. Tesla has made its "million-mile battery" into a concrete plan using additives and recycling.
Tesla signed a supply agreement with start-up lithium producer Piedmont Lithium (PLL) in September 2020. That news sent Piedmont shares up 236% in one day. Lithium, of course, is another key component in lithium-ion batteries.
The company has also attracted big-name investors, including Volkswagen which has invested $300 million and intends to use QuantumScape batteries in its vehicles.
CATL Asian Powerhouses of Battery Production
| Rank | Company | 2021 Market Share |
|---|---|---|
| #1 | CATL | 32.5% |
| #2 | LG Energy Solution | 21.5% |
| #3 | Panasonic | 14.7% |
| #4 | BYD | 6.9% |
•Sep 25, 2021
Tesla broke ground on the Gigafactory in June 2014 outside Sparks, Nevada. … In mid-2018, battery production at Gigafactory 1 reached an annualized rate of roughly 20 GWh, making it the highest-volume battery plant in the world. Tesla currently produces more batteries in terms of kWh than all other carmakers combined.
Tesla's battery-manufacturing 'Megafactory' breaks ground in California. Tesla broke ground on its “Megafactory,” a new production facility in California, so christened because it will produce the company's large-scale battery system Megapack.
According to data from SNE Research, the top three battery makers—CATL, LG, and, Panasonic—combine for nearly 70% of the EV battery manufacturing market.