1 Thing to Look for During Tesla's Battery Day
Most discussions about investing in Tesla (NASDAQ:TSLA) focus on the eye-popping number of electric vehicles or EVs the company must make to justify its current stock price. And even the most optimistic assessments paint a fairly long road ahead for the company's EV production to catch up to its current valuation. But the company is also a leader in energy storage, or batteries, a business that gets much less attention from analysts. Tesla's upcoming "Battery Day Event" on Sept. 22nd, 2020, will undoubtedly be packed with lots of goodies about its latest advances in battery technology. And understanding Tesla's storage business may shed some light on how to value the company.
An artist's rendering of Tesla's Gigafactory. Image source: Tesla.
Tesla's main business at this time is its EVs and related services, accounting for close to 93% of its revenue dollars during Q2 2020. Tesla's mission statement, however, says nothing about cars, trucks or even transportation. Its mission is to "accelerate the world's transition to sustainable energy."
Source Fool.com
