By Mark Longyen, with agency reports
U.S. carmaker Tesla’s new Megafactory in Shanghai, dedicated to manufacturing its energy-storage batteries, known as Megapacks, has unveiled a mega factory for its production.
The development marks a significant expansion of the company’s presence in China, according to Chinese News Agency, Xinhua.
With an initial annual production capacity of 10,000 units, or roughly 40 gigawatt-hours of energy storage, this Megafactory is set to significantly contribute to Tesla’s global energy storage goals.
According to the administration of the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone, where this Tesla facility is located, the company anticipates a year-on-year increase of 50 per cent in energy storage deployments in 2025.
Covering an area of approximately 200,000 square meters, the new Shanghai plant represents a total investment of about 1.45 billion yuan (around 202 million U.S. dollars).
Notably, mass production at the factory commenced just eight months after construction began, serving as a new example of “Tesla speed” in China.
The Shanghai Gigafactory, Tesla’s first plant in the country’s eastern financial hub was built and inaugurated within a year in 2019.
“We’ve witnessed the incredible speed of Shanghai and Tesla once again.
“I’m excited to have this factory kick off an exciting year for Tesla,” said Mike Snyder, vice president of Tesla, at the launch ceremony on Tuesday.
Snyder expressed confidence that the new factory will become a cornerstone of Tesla’s global production network.
