The American electric vehicle manufacturer Tesla began construction of a factory in Shanghai this Thursday to produce its Megapack energy storage batteries, as reported by the Chinese state press.
The €185 million investment in the Lingang free trade zone in Shanghai will be Tesla’s first battery factory outside the United States.
It is worth mentioning that Elon Musk’s company opened an electric vehicle factory in Shanghai in 2019, which assembles cars for China, Europe, and other foreign markets.
Tesla is currently the second largest seller in the Chinese electric vehicle market, behind the Chinese company BYD. The official news agency “Xinhua” praised Tesla’s commitment to investing in China and “challenging the rhetoric of ‘decoupling’ between the economies of China and the US.”
According to the agency, the factory is expected to start mass production in early 2025, with an initial capacity of 10,000 units per year.
According to Tesla, each Megapack can store over 3.9 megawatt-hours of energy, enough to power an average of 3,600 homes for one hour. These batteries are mainly designed for utility companies and commercial facilities.
