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Tesla to Build $800M Megapack Factory in Shanghai, Production Starts 2025
May 13, 2024, 07:44 AM
Tesla has been granted a construction permit for a new mega factory in Shanghai, China, marking its first energy storage mega factory project outside the US. The factory, covering over 204,000 square meters, is set to begin construction in May 2024, with mass production expected to start in the first quarter of 2025. This facility aims to produce 10,000 Megapacks per year, significantly boosting Tesla's energy storage production capabilities. The project, valued at approximately $800 million, is anticipated to be one of the largest battery facilities in the world.
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Significant increase in market share • 33%
Moderate increase in market share • 33%
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