Tesla's energy business was a key revenue driver in the second quarter as EV sales declined, contributing $3 billion from battery storage units and solar panels, almost double the same quarter in 2023.
Tesla's dependence on autos for financial stability is highlighted, with investor warnings indicating that despite successful energy business ventures, the company's future remains tethered to automotive sales.
Analysts caution that while Tesla's energy generation and regulatory compliance revenue sources are strong, they can be inconsistent, with skepticism lingering around Elon Musk's robotaxi business promises being too distant to bank on.
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