Tesla applies to become UK electricity provider

Marco Green
May 5, 2020

According to a report in British newspaper the Telegraph, the company may want to introduce its Autobidder platform to the United Kingdom, a real-time automated energy trading platform which lets power producers monetize battery assets.

As per the Telegraph's report, this electricity bid may be a way for Tesla to showcase its Autobidder platform. However, the business actually belongs to the French renewable energy company Neoen.

More competition in the UK's electricity sector can always be beneficial, assuming the license will be granted to Tesla.

The electric auto company filed the application on Tuesday 28 April. According to the electric auto maker's official page for its Autobidder platform, the system is now operating at the Hornsdale Power Reserve in South Australia, one of the world's biggest battery installations.

According to the company's official website, "Autobidder provides independent power producers, utilities and capital partners the ability to autonomously monetize battery assets." .

The electric auto manufacturer states that Autobidder uses machine learning to offer a variety of features.

Strong volume growth was reported at Tesla's Gigafactory Shanghai for Model 3 sales in China, with the Model Y becoming the first profitable vehicle from the company in Q1 earnings.

In 2017, the carmaker built world's largest lithium ion battery to help keep the lights on in South Australia. However, the California-based company hasn't released any comment about its main intention why iy applied for U.K.'s license. At £566 per share, the company is still trading roughly 65% up year to date in the stock market. The company is now valued at £103.28 billion.

Other reports by Click Lancashire

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