Tesla To Build 'Megapack' Factory In Shanghai

(RTTNews) - Tesla will build a new mega factory in Shanghai, which will be dedicated to manufacturing its energy-storage product "Megapack", the U.S. carmaker said in a tweet on Sunday.

Megapack is a powerful battery that provides energy storage and support, helping to stabilize the grid and prevent outages.

The new plant is scheduled to break ground in the third quarter of the year and start production in the second quarter of 2024, Chinese state media outlet Xinhua reported.

Tesla noted that the new factory will initially produce 10,000 Megapacks per year.

Tesla currently has a Megafactory in California, capable of manufacturing 10,000 Megapacks per year.