US car maker and clean energy company Tesla Inc (NASDAQ:TSLA) said on Sunday that it will build a factory in Shanghai that will manufacture its battery energy storage product Megapack.
The Shanghai factory will have the capacity to produce 10,000 Megapacks per year, the company said in a brief announcement on Twitter. The factory annual output will amount to around 40 GWh of energy storage, which will be sold worldwide, China’s Xinhua News Agency reported on Sunday.
The Megapack plant will be located in the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone. Tesla expects to break ground on the facility in the third quarter of 2023 and start production in the second quarter of 2024, Xinhua reports.
