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© Reuters. Tesla logo seen in Los Angeles(Reuters) – US electric car maker Tesla Inc (O 🙂 has applied for a license to supply electricity in the UK, The Telegraph reported Saturday.
The purpose of the power regulator’s license may be to introduce the company’s Autobidder platform, according to the report, citing a company source. The app did not make clear why Tesla has applied for the license, The Telegraph reported.
Autobidder is a platform for automated energy trading and is currently operating in Tesla’s Hornsdale energy reserve in South Australia.
Having built a major battery business in recent years, the automaker is now preparing to enter the British market with its technology, the newspaper said, citing industry sources.
The company did not immediately respond to a request for comment.
In 2017, the automaker built the world’s largest lithium-ion battery to help keep the lights on in South Australia.
Tesla shares fell 9% on Friday after Chief Executive Elon Musk tweeted that the high-flying shares of the electric car maker were too expensive. “Tesla’s stock price is too high,” Musk said on Twitter.
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