Core Viewpoint - Tesla's energy storage business is facing significant challenges due to geopolitical tensions and potential tariff impacts, which may affect growth expectations and margins [1][2][4]. Group 1: Growth Expectations - Tesla's energy storage business experienced a remarkable growth of 113% year-over-year in 2024, driven by high demand for Megapack and Powerwall units [3]. - For 2025, Tesla had initially guided for "at least 50%" growth, but analysts now expect this guidance to be revised downward due to changing global trade policies [2][3]. Group 2: Impact of Tariffs - The potential reintroduction of Trump-era tariffs or stricter reciprocal measures could increase costs for key battery components and deployment infrastructure, negatively impacting margins and slowing deployment despite high demand [4]. - Analysts suggest that the energy storage segment may be more adversely affected by these tariff tensions compared to the electric vehicle (EV) business [2][4]. Group 3: Broader Business Context - Tesla is also expected to provide updates on its robotaxi rollout in Austin, which is part of its broader strategy in autonomous mobility, but this may not alleviate investor concerns regarding energy margins [5]. - The overall sentiment indicates that Tesla's previously viewed growth engine in energy storage is now facing external shocks that could hinder its performance [5].