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Market
Impact of Shanghai Factory on Tesla's global market share in energy storage (2025)
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Story
Tesla Granted Permit for Shanghai Megapack Factory to Produce 10,000 Units by 2025
May 14, 2024, 02:25 PM
Tesla has been granted a construction permit for its new Megapack factory in Shanghai, marking its first energy storage mega factory project outside the US. The factory, located in the Lingang area of the China (Shanghai) Pilot Free Trade Zone, is expected to go into mass production by the first quarter of 2025 and will produce 10,000 Megapacks per year. According to the management committee of Lingang, construction starts in May. Tesla has also acquired two plots of land in Shanghai for this project, and construction has already begun. This factory is projected to generate between $15 billion and $20 billion in annual revenue.
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