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Tesla has applied for a licence to generate electricity in the UK, documents show.

The US company, known for its electric vehicles, also has operations in battery energy storage and solar panel and solar roof tile manufacturing.

The application was made to the Gas and Electricity Markets Authority by Tesla Motors Co.

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It did not make clear why the firm had applied for the licence.

It was filed on Tuesday and signed by Evan Rice, Tesla's energy products sales director.

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In 2017, the carmaker built one of the world's largest lithium-ion batteries for the Australian state grid.

It followed severe blackouts in the state of South Australia after a storm in March 2016.

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At the time, chief executive Elon Musk made a bet, saying Tesla would get the battery installed and working within 100 days of the contract being signed or the $50m (£37m) renewable energy project would be installed for free. He won the bet.

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Yesterday, the 48-year-old billionaire tweeted that the electric car company's "stock price is too high".

About $13bn (£10.3bn) was wiped off Read More – Source