1. Tesla’s Q1 2026 Energy Storage Deployments Fall to 8.8 GWh; Energy Revenue Down 12% YoY
On April 22, Tesla released its Q1 2026 financial results. The company’s energy storage deployment reached 8.8 GWh, down 15% year-on-year and 38% quarter-on-quarter. Its energy business revenue stood at USD 2.408 billion, a year-on-year decrease of 12%.
Despite the declining deployment scale, the gross profit margin of Tesla’s energy business exceeded 39.5%, hitting a record high. Tesla expects its full-year 2026 energy storage deployment to surpass the 2025 figure of 31.4 GWh.
In terms of production capacity, Tesla is advancing the construction of its Houston energy storage factory and planning the third-generation Megapack and Megablock systems.
2. Envision Power Launches Phase II of Yichang Gigafactory, Planning 60 GWh Cell + 60 GWh System Capacity
On April 23, the Phase II project of Envision Power’s Yichang Gigafactory officially started construction, with a planned capacity of 60 GWh energy storage cells and 60 GWh AI energy storage systems, scheduled for full commissioning in 2027.
Combined with the Phase I capacity of 40 GWh, the total capacity of the Yichang base will reach the hundred-GWh level, making it the world’s first full-industry-chain hundred-GWh energy storage base.
The base covers full-stack capabilities including materials, battery cells, system integration and turnkey project delivery. To date, Envision Power has deployed 14 battery gigafactories worldwide, with cumulative energy storage cell shipments exceeding 100 GWh.
3. Spain’s New Energy Storage Projects Surge to 2,121.5 MW, Up 464% YoY
According to ESS-News on April 24, a total of 96 energy storage projects in Spain entered the public consultation stage in Q1 2026, with a total scale of 2,121.5 MW, representing a year-on-year increase of 464%.
Battery energy storage accounts for 98.9% of the total projects, mainly in standalone or co-located forms. In terms of approval progress, 46 projects (1,144.6 MW) have passed environmental assessment, and 15 projects (239.6 MW) have obtained construction permits.
In contrast, new photovoltaic development has slowed down, with the capacity of PV projects entering public consultation in Q1 dropping by 1,353.2 MW year-on-year.
4. LONGi, Envision and BYD Secure Major Australian New Energy Orders
Australian iron ore giant Fortescue announced plans to accelerate the construction of the world’s first industrialized green energy grid project, equipped with 1.2 GW PV, over 600 MW wind power and 4–5 GWh battery energy storage systems (BESS).
According to Fortescue, PV modules will be supplied by LONGi, wind turbines will be provided by Envision Energy, and the battery energy storage system will be exclusively delivered by BYD.
5. Gotion Holdings Solid-State Battery Material Project Settles in Anqing
Gotion Holdings’ 20,000-ton annual production project for key solid-state battery materials, the world’s first industrialized solid-state battery material project, has settled in Daguan District, Anqing, Anhui Province, and is expected to be completed and put into operation in 2027.
Co-built by Gotion Holdings and Anqing Petrochemical, the project focuses on the R&D and production of core solid-state battery materials to improve battery energy density and safety.
Gotion High-Tech has completed the design of a 2 GWh all-solid-state battery mass production line and plans to launch small-batch vehicle installation in 2027. The new project will provide key material support for its solid-state battery business.
6. Mocax Energy Files for HKEX Listing: 2025 Revenue of RMB 520 Million, Gross Margin of 10%, Three Consecutive Years of Losses
On April 24, 2026, Mocax Energy Technology Co., Ltd. formally submitted its prospectus to the Hong Kong Stock Exchange, aiming to be the “first stock in new power consumption services”.
Founded in 2018, the company has transformed from battery safety diagnosis to distributed energy storage asset operation in a few years, claiming to be China’s largest new power consumption service provider.
Compared with four emerging energy storage unicorns pursuing HKEX IPOs including Guoxia Technology, Weiheng Intelligent, Yuanxin Energy Storage and Mocax Energy, the first three focus on energy storage system integration hardware, while Mocax Energy is the only one thoroughly adopting an asset-light model with a relatively high valuation but weaker financial performance.