Energy & Environment

Tesla Branching Out and Applying to Join U.K. Electricity Providers

Tesla Branching Out and Applying to Join U.K. Electricity Providers



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Tesla may be providing electricity for the United Kingdom at some point in the future. It wouldn't be so surprising, given the electric vehicle company's CEO, Elon Musk, is always keen to expand his businesses.

On Saturday, the Telegraph reported that Tesla had applied for a license to become an electricity provider in the U.K. This may also be a strategic move for Tesla to unveil its Autobidder platform, as per the report.

SEE ALSO: THE SHORT BUT FASCINATING HISTORY OF TESLA

Electricity or new platform?

As per the Telegraph's report, this electricity bid may be a way for Tesla to showcase its Autobidder platform. The company's application did not state why it was applying for the license.

Autobidder is a Tesla-built platform for automated energy trading and is presently being operated at Tesla's Horndale Power Reserve in South Australia. Tesla is aiming to eventually become a huge distributed electric utility, and Autobidder appears to be a step in that direction.

Just last year, Musk stated that Tesla Energy, the carmaker's energy division, will become a distributed global utility and could become larger than its automotive side of the business. In the company's own words, "Autobidder provides independent power producers, utilities and capital partners the ability to autonomously monetize battery assets. Autobidder is a real-time trading and control platform that provides value-based asset management and portfolio optimization, enabling owners and operators to configure operational strategies that maximize revenue according to their business objectives and risk preferences."

As Tesla has built a significant battery business in the last few years, it's now looking to enter the British market. The company has yet to comment on the matter.

In 2017, Tesla managed to keep lights on in South Australia by using its lithium ion battery, which is the largest in the world.


Watch the video: Tesla Autobidder. New Software + New Massive Revenue Streams (August 2022).