Tesla to build Shanghai factory to make Megapack batteries – Xinhua

According to Chinese state media outlet Xinhua, Tesla Inc. will construct a shop in Shanghai to produce the Megapack energy hardware product.

According to Xinhua, who spoke at a signing ceremony in Shanghai, Elon Musk’s’s automaker will begin production at the plant in the second quarter of 2024.

The latest factory, which will immediately create 10,000 Megapack units annually, or roughly 40 gigawatt hours of energy storage, to become sold globally, will supplement a sizable existing Shanghai plant producing electric vehicles, according to Xinhua.

Tesla’s’s lithium-ion chargers, known as Megapacks, are used in battery-storage power plants.

Tesla makes the majority of its money from its electric vehicle venture, but Musk has pledged to increase both its power and renewable energy businesses by roughly the same amount.

Tesla has a shop in Lathrop, California that can produce 10,000 Megapacks annually.

The business started making Model 3 vehicles in Shanghai in 2019 and is now able to make 22, 000 vehicles per year.

( Editing by William Mallard, reporting by Josh Horwitz)

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