Tesla to enter Australia’s retail energy sector to compete against big players

Tesla has revealed its plan to participate in the retail energy sector of Australia, saying that it will sell rooftop solar panels, batteries, and EVs to compete against traditional incumbents. The latest confirmation is coming directly from the Australian Energy Regulator on Thursday.

Tesla already has business with big battery uses including the original Honrsdale Power Reserve and the Victoria Big Battery as well as consumer-grade household batteries with its PowerWall product.

Tesla is the current dominating EV player in Australia, accounting for about two-thirds of the overall EVS in the market. From which, Model Y and Model 3 are the most popular cars.

According to the information, Tesla has filed for a regulatory license for TEsla Energy Ventures in NSW, Victoria, Queensland, South Australia, Tasmania, and the ACT. The automaker also mentioned that it will look for households and small and large-scale commercial customers.

Elon Musk-led Tesla is also interested in expanding the business in this field with more managers and operation facilities in the country.

Analysts believe that this new entry will impact market giants such as AGL, Origin, and EnergyAustralia as well as the federal government’s Snowy Hydro.

(source)