Tesla Applies For UK Electricity Licence, Aiming To Launch Tesla Electric In 2026

Benzinga

Tesla has applied to the UK energy regulator for an electricity supply licence, according to The Guardian. The move paves the way to launch Tesla Electric in England, Scotland, and Wales next year. The company’s Manchester-based subsidiary, Tesla Energy Ventures, applied for the license last month, which would allow the company to sell electricity to homes and businesses. The UK launch could mirror Tesla’s Texas model, offering cheaper charging for Tesla owners and payments for surplus solar or battery power fed back to the grid. Tesla’s electric car sales in Europe have been declining. UK sales in July fell nearly 60% year-over-year, reducing Tesla's UK market share to 0.7% from 1.67% a year earlier. Year-to-date UK sales are down 7% as Musk faces criticism over his political relationships and interventions in several European countries.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Tesla has applied to the UK Energy Regulator for an electricity supply license, according to The Guardian.

00:07The move paves the way to launch Tesla Electric in England, Scotland and Wales next year.

00:11The company's Manchester-based subsidy, Tesla Energy Venture, has applied for the license last month,

00:16which would allow the company to sell electricity to homes and businesses.

00:19UK launch can mirror Tesla's Texas model, offering cheaper charging for Tesla owners

00:24and payments for surplus solar or battery power fed back to the grid.

00:28Tesla's electric car sales in Europe have been declining.

00:30UK sales in July fell nearly 60% year over year,

00:34producing Tesla's UK market share to 0.7% from 1.67% a year earlier.

00:39Year-to-date, UK sales are down 7%, as Musk faces criticism over his political relationships

00:44and interventions in several European countries.

00:47For all things money, visit Benzinga.com.

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