Elon Musk's Tesla has applied for permission from the UK's energy regulator to supply electricity to British homes. If approved, Tesla would be able to compete with the many large energy companies that currently provide critical electricity services to homes and properties across England, Wales and Scotland.
The application to UK energy regulator Ofgem was made late last month by Manchester-based Tesla Energy Ventures Ltd. The official document was signed by Andrew Payne, who is listed as a director of the company. His LinkedIn page shows that he also serves as Tesla’s head of energy business in Europe, the Middle East and Africa.
In addition to being the world's best-known electric car maker, Tesla is also involved in battery storage and solar supply.
Last year, the company's revenue from sales of solar cells, batteries and other energy products nearly doubled, growing $1.5 billion, or 93%, from the year before.
Musk, one of the world's richest men, received a $29 billion pay package from Tesla last week. Tesla, of which he is CEO, already provides electric service to residential properties in Texas.
The filing comes as Tesla's main business, car sales, is in decline. Tesla's vehicle revenue fell 16% from April to June this year, and overall revenue fell 12%, according to its financial report. Sales of its best-selling Model Y and Model 3 were down 12% from a year earlier, while sales of more expensive models, including the Cybertruck, plummeted 52%.
According to data from the Society of Motor Manufacturers and Traders (SMMT), sales of new Teslas in the UK fell 60% in July compared with the same period last year. Additionally, Tesla's annual sales in Europe fell 22%, according to June data from the European Automobile Manufacturers Association.
Tesla's sharp sales decline isn't just happening in the U.S., but globally. This is widely seen as a backlash against Musk's political activities, but also stems from increasing competition from other electric car manufacturers, especially Chinese ones.
Back in 2023, Tesla was recruiting on LinkedIn for an operations lead for Tesla’s electric business in the UK. The recruitment information states that Tesla’s involvement in the electric field is to “accelerate the transition to sustainable energy.”
"We firmly believe that simplifying and improving the customer experience associated with retail electricity and virtual power plants is critical to driving widespread consumer adoption of (sustainable energy). Providing a seamless and convenient customer experience will ensure that the flexibility of small-scale residential power is fully utilized to support the entire grid transition to 100% renewable energy."
CNN has contacted Tesla for comment.