Tesla has the juice to make it through the electric-vehicle slowdown — literally.
Tesla’s energy business was a key revenue driver in the second quarter as EV sales fell and robotaxi initiatives remained as murky as ever.
While Tesla’s earnings per share fell short of analysts’ expectations from April to June, revenue outpaced expectations, with a record $25.5 billion.
About $3 billion of that came from battery storage units and solar panels sold by its energy business. That’s nearly double what that same business unit recorded in the second quarter of 2023.
In a tough start to 2024, Tesla’s bright spots have been in areas other than its industry-changing electric-vehicle lineup.
The company has posted two straight quarters of falling vehicle sales, with deliveries down 4.7% in the second quarter. A series of price cuts have eaten away at Tesla’s bottom line only a few years after it first …