Tesla to Build New Megafactory in Shanghai

US electric automaker and clean energy company Tesla announced it will build a new Megafactory in Shanghai, which will be dedicated to manufacturing the company's energy storage product Megapack.

The new plant is scheduled to break ground in the third quarter of 2023 and start production in the second quarter of 2024, Tesla said at a signing ceremony of the project in Shanghai.

According to a report from the Chinese state news agency Xinhua, the new factory will initially produce 10,000 Megapack units every year, equal to around 40 GWh of energy storage. The products will be sold worldwide.

The Tesla Megapack is a large-scale rechargeable lithium-ion battery stationary energy storage product, intended for use at battery storage power stations, manufactured by Tesla Energy, the clean energy subsidiary of Tesla.

Launched in 2019, each Megapack can store up to 3.9 megawatt-hours (MWh) of electricity. Megapacks can be used to store energy generated by intermittent renewable power sources, such as solar and wind. The energy stored can be used by the grid as required, for example during periods of peak electricity demand.

Tesla currently operates a Megapack plant in California, which produces 10,000 of the battery units each year.

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