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Which region will be the largest market for Tesla's Shanghai Megapacks in 2025?
2
Resolution / Starting Odds
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Tesla's sales reports or regional sales announcements
Story
Tesla's Shanghai Megafactory Begins Trial Production After 7-Month Build, Mass Production Set for 2025
Dec 31, 2024, 07:12 AM
Tesla has officially commenced trial production at its Shanghai Megafactory, which specializes in manufacturing energy-storage batteries known as Megapacks. The factory, Tesla's first energy storage facility outside the United States, was completed in just seven months, setting a new record for "Tesla speed." Construction began on May 23, 2024, and the factory passed its completion inspection on December 27, 2024. Located near Tesla's vehicle assembly plant in Lingang, Shanghai, the facility is expected to begin mass production in early 2025, with an initial capacity to produce 10,000 Megapacks annually, equivalent to approximately 40 GWh of energy storage. The Megapacks are designed for commercial use, stabilizing power grids and preventing outages. The project represents a significant investment of 1.45 billion yuan (approximately $201.7 million) and underscores Tesla's commitment to expanding its energy storage business globally. Shanghai Lingang Economic Development Group became the first customer, securing initial orders during the groundbreaking ceremony in May.
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