5 Next Generation Battery Technology Companies

4. Tesla, Inc.

Revenue as of 2021: 53.82 billion

Tesla Inc. is an electric vehicle and energy generation and storage system company based in Texas, USA. Its automotive segment deals with electric vehicles and maintains a network of Tesla Superchargers alongside complimentary services. The second is the energy generation and storage segment which deals with solar energy generation and other energy storage products. Tesla Inc.’s shares have seen an enormous rally in 2023 after facing major hits.

In 2022, Tesla, Inc. saw an increase in revenue of around 50%. It sold 1.31 million vehicles in 2022, which was a 40% increase from the previous year, which includes 405,300 units sold in the fourth quarter of 2022. Tesla Inc.’s earnings grew by 127.8% over the past year and are forecasted to grow at a rate of 18.3% per year. The company plans to spend $3.6 billion to build a Semi and a battery factory in its Nevada complex, along with hiring 3000 additional workers. Tesla, Inc. has also launched its 4680 battery with the aim to cut battery costs to half by providing a higher-capacity yet cheaper option to its consumers and plans to produce enough 4680 batteries for 1.5 million light-duty vehicles in the Nevada complex.

In January 2023, Tesla, Inc. saw its strongest orders year-to-date in history, according to Elon Musk. As of right now, it is valued at $76 billion, which is almost double its valuation in 2022.