Elon Musk's Tesla Introduces New Megapack 3, Megablock To Its Line Of Energy Storage Products

Tesla Inc. TSLA has unveiled the Megapack 3 and the Megablock as the company updates its line of energy storage products.

Faster Installations, Lower Costs

Unveiled at the company's "Las Megas" event on Monday in Las Vegas, the company says its updated Megapack 3 uses a "drastically simplified thermal bay 78% fewer connections" and said that it will be manufactured in Houston in late 2026.

The Megablock, on the other hand, connects over four Megapack 3 batteries with a megavolt transformer and switchgear and can be installed 23% faster, saving 40% in construction costs, Tesla says.

The company also revealed that the Megablock can be installed with a site density of 248 MWh per acre and promises "25-year life & >10,000 cycles 91% round-trip efficiency at medium voltage," Tesla said.

Tesla's Energy Storage Deal, Master Plan IV

The news comes as Tesla recently announced a $4.3 billion deal with South Korean battery manufacturer LG Energy Solutions, which will see the company supply LFP batteries to Tesla starting in August 2027.

Meanwhile, Tesla also unveiled its Master Plan IV — a roadmap for the company's plans — which shifts the EV giant's focus towards artificial intelligence and robotics. Interestingly, Elon Musk recently predicted that 80% of the company's value would be represented by the Optimus line of Humanoid robots.

Tesla Market Share Drops In U.S., Sales Dwindle In Europe

Elsewhere, Tesla's EV market share in the U.S. fell below 40% for the first time in over eight years as the company accounted for 38% of the domestic EV sector. Tesla's sales also dwindled in the European market, with the company's sales declining 40.2% in the region.

Tesla scores well on Momentum, Growth and Quality metrics, but offers poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!

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