The battery factory marks the company's first energy storage system factory outside the US to manufacture its energy storage batteries known as Megapacks, and is also another major investment for Tesla in China following the inauguration of its Shanghai Gigafactory in 2019.
Mass production at the Shanghai site is expected to begin in the first quarter of 2025, the company told Xinhua News Agency (New China News Agency), claiming it was built in record time. Its initial capacity will be 10,000 Megapacks a year, or 40GWh of energy storage capacity, and Tesla invested around US$200 million (1.45 billion CNY) into it.
The battery products will be supplied to the global market, according to a Shanghai Observer report. Energy storage has become an important profit growth driver for Tesla. According to Tesla's third-quarter 2024 financial report, revenue from the energy generation and storage business reached $2.376 billion, a year-on-year increase of 52.4 percent.
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Tesla has initiated trial production at its Shanghai energy storage Megafactory, marking its first factory for energy storage outside the U.S. The plant aims to manufacture Megapacks, Tesla''s
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Tesla has started trial production at its Megapack assembly plant in Shanghai, China, state-owned news reported this week (31 December).
Tesla''s Shanghai Megapack factory, its first outside of the USA, begins trial production. Tesla has announced the commencement of trial production at its newly constructed Megapack
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