Tesla Inc (NASDAQ:TSLA) has applied for a licence with the UK energy regulator Ofgem to supply electricity to homes and businesses across England, Scotland and Wales, potentially entering the country’s energy market next year.
If approved, Tesla would compete with established energy suppliers. The company, known for electric vehicles, also operates in solar energy and battery storage, and already runs a power supplier in Texas offering cheap EV charging and payments for surplus energy.
Tesla has sold over 250,000 electric cars and many home batteries in the UK, which could provide a strong customer base. The application was submitted last month by Tesla’s European energy head, Andrew Payne.