The Shanghai factory will supplement the production of Tesla Megapack factory in California
Courtesy Tesla
Tesla
is planning to build a new factory in Shanghai to boost production of its Megapack batteries, the company confirmed Sunday.
The new plant strengthens Tesla’s presence and investment in China, where it already has an EV factory.
The electric-vehicle maker’s CEO Elon Musk said the Shanghai plant would supplement the output of its Megapack factory in California. Tesla made the announcement at a signing ceremony for the project in Shanghai.
“Our next Megafactory will be in Shanghai—capable of producing 10,000 Megapacks per year,” Tesla said in a tweet Sunday.
Tesla’s Megapacks are battery storage products that the company sells to utilities. The batteries can store power from renewable sources, such as solar and wind, to be used when needed to support the grid’s peak loads.
The factory could break ground in the third quarter of 2023, with production beginning in the second quarter of 2024, according to reports from Chinese state-run Xinhua News Agency and state television.
Write to Callum Keown at [email protected]
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