Tesla built its 10,000th Megapack in Lathrop earlier this month, indicating that the company is progressing toward its annual production target, after it broke ground on the site in 2021 and began production in 2022. The company’s energy division has also been growing into its highest margin business, and sales growth in the sector has been outpacing that of Tesla’s automotive business—both of which were predicted by Elon Musk going into 2024.

As of the end of Q3, Tesla announced that it deployed a record-breaking 20.3 GWh of battery storage projects in the nine-month period, which was already more than the company deployed throughout all of 2023 (14.7 GWh). The figure, split between the Megapack and the Powerwall home batteries, was made up of 6.9 GWh deployed in the third quarter, 9.4 GWh in the second, and 4.1 GWh in the first three months of the year.