ENERGY STORAGE

Tesla acquires site in China for energy storage battery factory

January 3, 2024

Tesla has acquired a site for an energy storage battery factory in Shanghai, China, according to reports.

Construction is scheduled for early next year with production expected to commence by the end of the year, the official Xinhua News Agency said.

The factory will build batteries for electric utilities and other companies to store power.

At the outset, the new factory will produce 10,000 Tesla Megapack units annually for sale worldwide, Xinhua said.