Tesla will open the Megafactory refinery in Shanghai

Tesla will open the Megafactory refinery in Shanghai

SHANGHAI: The automobile manufacturer from the United States (US), Tesla announced that it will open a Megafactory in Shanghai, China, specializing in the production of Megapacks, which are energy storage products.

Construction of the plant will begin in the third quarter of this year and is expected to be operational in the second quarter of 2024, Tesla said at a signing ceremony here on Sunday.

The factory, when completed, will be able to produce 10,000 Megapacks per year, equivalent to energy storage of approximately 40 GWh. The products produced in the factory will be sold all over the world.

The Megapack is an oversized battery that can store energy, help stabilize the energy grid and prevent power outages.

Deputy Secretary General of the Shanghai city government, Zhuang Mudi said that in the past five years, the Tesla Gigafactory project in Shanghai has become the focus of the world, thus making Shanghai an important area for the development of the new energy vehicle (NEV) industry.

“Now, the signing of the Megafactory in Shanghai can definitely promote the development of the new energy storage industry and the transformation towards low carbon,” he said.

It is understood that the Megafactory project is the first Megapack production project outside the US.

Tesla’s Gigafactory in Shanghai has produced 710,000 cars in 2022, up 48 percent from 2021.

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