Energy sales drive Tesla NZ revenue surge

Tesla New Zealand has reported a strong financial recovery for 2025, with revenue surging to $285.3 million from the previous year’s $149.5 million, driven primarily by a dramatic increase in energy generation and storage sales.

The electric vehicle manufacturer’s local operation saw its energy division revenue jump from $19.2 million in 2024 to $119.2 million in 2025, accounting for the majority of the overall revenue increase.

Despite the strong recovery, Tesla New Zealand’s 2025 revenue remained well below the peaks achieved during 2022 ($499.5 million) and 2023 ($373.7 million), when the $8625 Clean Car Discount significantly boosted electric vehicle sales across New Zealand.

The government subsidy was removed at the end of 2023, with electric vehicles also losing their road user charges exemption soon afterwards, creating challenging market conditions for EV manufacturers in 2024.

Automotive sales show modest recovery

Tesla’s core automotive revenue in New Zealand rose to $135.7 million in 2025, up from $107 million in 2024, though still significantly below historical levels.

Motor Industry Association (MIA) registration figures show Tesla Model Y sales increased to 6878 units in 2025, up from 6360 in 2024. However, sales of the more affordable Model 3 declined to 320 units from 461 the previous year.

Revenue from regulatory credits also increased, rising to $16.5 million from $10.1 million in 2024, while services revenue remained relatively flat at $13.8 million.

Solar and storage business drives growth

The standout performer was Tesla’s energy generation and storage division, which saw revenue increase more than six-fold from $19.2 million to $119.2 million year-on-year.

This dramatic growth in the energy sector helped offset the ongoing challenges in the automotive market following the removal of government EV incentives.

Tesla New Zealand achieved a modest profit of $284,000 for 2025, down from $457,000 in 2024. The company operates as a 100% owned subsidiary of Tesla Netherlands, with the majority of its revenue flowing to related party purchases from various offshore Tesla units.

The largest related party transactions were with Tesla Australia ($9.2 million) and Tesla’s Netherlands operation ($198.5 million), reflecting the integrated nature of Tesla’s regional operations.

Tesla New Zealand is ultimately owned by Tesla Inc in the United States.