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How will Tesla's Shanghai Megapack factory impact the global energy storage market by the end of 2025?
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Story
Tesla Breaks Ground on Shanghai Free Trade Zone Megapack Factory, First Outside U.S., to Produce 40 GWh
May 23, 2024, 08:15 AM
Tesla has broken ground on a new mega factory in Shanghai's free trade zone to manufacture its energy-storage batteries, known as Megapacks. This facility, the first of its kind outside the U.S., is expected to become operational in the first quarter of 2025 and will produce 10,000 Megapacks annually, equivalent to nearly 40 GWh of energy storage. The groundbreaking marks a significant milestone for Tesla's energy storage business in China and stands in contrast to the U.S.'s political hype of an economic 'decoupling' from China. Tesla Vice President Tao Lin stated that some products from the Shanghai factory will be sourced to China, while the rest will be exported overseas. Tom Zhu, Tesla's China chief, emphasized the importance of this project. Additionally, Lingang Group has completed an order agreement with Tesla for China's first commercial energy storage system megapack, purchasing a total of eight units.
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