Tesla secures 100 MW Megapack contract worth USD 99.4M in New Zealand

$Tesla(TSLA.US)$ $BYD COMPANY(01211.HK)$ $NIO Inc(NIO.US)$ $XPeng(XPEV.US)$ The article reported that New Zealand power company Contact Energy has announced a partnership with Tesla to construct a massive 100 MW battery storage system. The battery installation will be built in Glenbrook, near Auckland, and it is expected to cost up to NZD 163 million (USD 99.4 million). Construction at the Glenbrook site is expected to begin immediately, with Contact managing the overall project. Expectations are high that the Glenbrook Megapack farm will be operational in Q1 2026.

My Take: The batteries are produced at the Lathrop Megafactory in California. The supply of Megapacks is expected to improve once Tesla China completes the Shanghai Megafactory. Some analysts chosen to ignore the revenue generated by Tesla Energy Storage. Energy Digital has ranked Tesla the #1 energy storage company in the world.

Read here: Energy Digital ranked Tesla #1 Energy Storage Company in The World

Morgan Stanley maintains an Overweight rating and a $310.00 stock price target which is based on the anticipated growth in artificial intelligence (AI) and its projected increase in electricity demand. Read here: MS maintains Overweight Rating and TP $310 on Tesla cites AI and Energy demand growth

Tesla secures 100 MW Megapack contract worth USD 99.4M in New Zealand

Source:

Tesla secures 100 MW Megapack contract in New Zealand - Teslarati

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ZnWC

I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.

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