Sunita Somvanshi
Tesla has presented its figures for the third quarter of 2024, generating revenue of 25.2 billion US dollars with 2.17 billion dollars in profit, achieving a margin of 10.8 percent. The automotive sector contributed 20 billion dollars, showing only a two percent growth compared to the previous year.
Strong Growth in Service and Energy Divisions
The energy business revenue reached 2.37 billion dollars, marking a 52 percent increase from the previous year. The service division achieved 2.79 billion dollars in revenue, representing a 29 percent growth year-over-year. Both areas were highlighted as increasingly profitable.
The Service business division encompasses the Supercharger network, sale of spare parts, accessories, and maintenance. The Energy Generation and Storage division includes solar tiles, solar panels, and energy storage systems like Powerwall, Powerpack, and Megapack.
Supercharger Network Expansion
Tesla built 2,800 new charging stations in the third quarter of 2024, representing a 22% year-over-year growth. This marked a significant recovery following a 31% year-over-year decline in new station deployments during the second quarter, which was affected by April layoffs.
According to Supercharge.info tracking data:
- North America: 2,677 stations (28,000 individual chargers in 2,410 U.S. stations)
- Europe: Nearly 1,300 stations
- Asia-Pacific: 2,700 stations
- Global total: 6,683 operational stations
- Additional stations: 323 under construction, 1,128 in planning
In Europe alone, Tesla maintains more than 14,000 Superchargers across 1,100 locations in 30 countries, with Germany hosting over 3,600 Superchargers at more than 200 locations. Last year Tesla managed to setup more than 13,000 in Europe and Middle East.
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Environmental Impact and Technology Advances
The network delivered more than 1.4 terawatt-hours (TWh) of electricity in Q3 2024, a 27% increase year-over-year, offsetting approximately 567.75 million liters of gasoline and over three billion pounds of COâ‚‚.
The fourth generation Supercharger (V4), introduced last year, features:
- Increased charging capacity of 350 kW (up from previous 250 kW)
- Longer charging cable
- Elevated design for improved ease of use
Future Investments and Accessibility
CEO Elon Musk announced that Tesla will invest over $500 million this year for network expansion. The network is now accessible to non-Tesla vehicles, with Ford, Rivian, and General Motors having access to North American stations (Magic Dock-compatible stations and certain non-Tesla exclusive stations in Europe and other parts of the world were already open to other brands).
