Tesla Megapack batteries sold out “through the end of 2022”

Credit: Tesla

In the second-quarter earnings call, Tesla CEO Elon Musk shared that the Megapack is sold out up to the end of next year.

“We have a significant unmet demand in stationary storage. Megapack is basically sold out through the end of next year, I believe,” Elon Musk said while answering a question from New Street Research analyst Pierre Ferragu. He also stated that Tesla has a massive backlog in Powerwall demand.

A few weeks before the earnings call, Tesla updated the order page of the Megapack with new details and prices. The new order page reveals that the Megapack has a starting price of about $1.2 million per unit. The price varies depending on the state or U.S. territory. Potential Tesla customers can order up to 1,000 Megapacks, which would cost around $850 million or $278/kWh.

Ferragu also asked about Tesla’s sourcing strategy for the 4680 cells. He wondered if Tesla would ask other battery manufacturers to produce the 4680 cells with their own technology.

Musk stated that Tesla expects to see significant increases in supply from its existing suppliers. Earlier in the call, he shared that Tesla has contracts with battery suppliers to nearly double their cell supply for Tesla in 2022. Tesla is thinking of overshooting cell supply estimates for vehicles and routing excess batteries to Megapack and Powerwall production.

“But in terms of demand, I think there’s probably demand in excess of a million Powerwalls per year. And actually just vast amounts of the Megapack for utilities,” shared Musk.

“As all transitions to a sustainable energy production, solar and wind are intermittent and by their nature really need battery packs in order to provide a steady flow of electricity. And when you look at all the utilities in the world, this is a vast amount of batteries that are needed. That’s why in the long term we really think sort of combined Tesla and suppliers need to produce at least 1,000 gigawatt hours a year, and maybe 2,000 gigawatt hours a year,” he said.

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Tesla Megapack batteries sold out “through the end of 2022”
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