Tesla to Build First Overseas Megapack Super Factory in Shanghai, China
According to China News, Tesla has announced plans to open its first Megapack Super Factory outside the United States in Shanghai, China. The factory is scheduled to break ground in May 2024 and begin mass production in the first quarter of 2025.
The Megapack Super Factory will produce Megapack, a large-scale commercial energy storage battery. The product is based on an integrated system design and modular design, which helps grid operators and utilities store and distribute renewable energy more efficiently. Each Megapack unit can store over 3.9 megawatt-hours of energy, enough to meet the electricity needs of 3,600 households for one hour. Over 200 Megapacks can form an energy storage power plant that can store 100 million kilowatt-hours of electricity.
Tesla has a long history of involvement in the energy storage industry. In 2015, Tesla launched the Megapack commercial battery and Powerwall home battery in the United States, targeting the large-scale commercial and home energy storage markets, respectively.
Tesla China said that its energy storage business has grown rapidly in recent years, with its energy storage products now available in over 65 countries and regions around the world. In 2023, Tesla's total installed energy storage capacity reached 14.7 gigawatt-hours, an increase of 125% year-on-year, and its energy generation and storage business profits nearly quadrupled in 2023.
Tesla CEO Elon Musk said on the company's fourth-quarter 2023 earnings call, "I've been predicting for years that the energy storage business will grow much faster than the electric vehicle business. It's happening."
Megapack, which will be produced at the Tesla Shanghai Megapack Super Factory, is currently in use in several countries and regions, including the United States, the United Kingdom, and Australia, providing power supplements and guarantees for the local area.
Key Points:
- Tesla to build its first Megapack Super Factory outside the United States in Shanghai, China.
- The factory is scheduled to break ground in May 2024 and begin mass production in the first quarter of 2025.
- The Megapack Super Factory will produce Megapack, a large-scale commercial energy storage battery.
- Tesla's energy storage business has grown rapidly in recent years, with its energy storage products now available in over 65 countries and regions around the world.
- Tesla CEO Elon Musk believes that the energy storage business will grow much faster than the electric vehicle business.
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Date of record
17 April 2024
