Tesla Applies To Become UK’s Electricity Provider
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U.S. electric carmaker Tesla Inc has applied for a license to supply the electricity in the United Kingdom, The Telegraph reported on Saturday.
The purpose of the license from the energy regulator may be to introduce the company’s Autobidder platform, the report said, citing a company source. The application did not make clear why Tesla has applied for the license, The Telegraph reported.
Autobidder is a platform for automated energy trading and is currently being operated at Tesla’s Hornsdale Power Reserve in South Australia.
Shares of Tesla tumbled on Friday (May 1) after Chief Executive Officer Elon Musk tweeted that the electric carmaker’s high-flying stock was overly expensive. This report produced by Chris Dignam.
Having built a significant battery business in recent years, the carmaker is now preparing to enter the British market with its technology, the paper said, citing industry sources.
The company did not immediately respond to a request for comment.
In 2017, the carmaker built world’s largest lithium-ion battery to help keep the lights on in South Australia.
Shares of Tesla fell 9% on Friday after Chief Executive Officer Elon Musk tweeted that the electric carmaker’s high-flying stock was overly expensive. “Tesla stock price is too high,” Musk said on Twitter.
Questions & Answers
Q.Has Tesla clearly stated its reasons for applying for an electricity supply license in the UK?
Has Tesla clearly stated its reasons for applying for an electricity supply license in the UK?
No, the article states that the application did not make clear why Tesla has applied for the license. The Telegraph reported this information.
Q.What is the name of Tesla's platform for automated energy trading?
What is the name of Tesla's platform for automated energy trading?
Tesla's platform for automated energy trading is called Autobidder. This platform is currently in use at the Hornsdale Power Reserve located in South Australia.
Q.Has Tesla previously used its battery technology to support a country's power grid?
Has Tesla previously used its battery technology to support a country's power grid?
Yes, in 2017, Tesla built the world's largest lithium-ion battery in South Australia. This was done to help maintain the electricity supply there.
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