This development signifies a notable enhancement of Tesla’s operations in China.
The Megafactory is designed with an initial annual output capacity of 10,000 units, equating to approximately 40 gigawatt-hours of energy storage.
This facility is poised to play a crucial role in advancing Tesla’s global energy storage objectives, with the company projecting a 50 percent increase in energy storage deployments by 2025.
Spanning around 200,000 square meters, the Shanghai plant represents an investment of approximately 1.45 billion yuan (around 202 million U.S. dollars), as reported by the administration of the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone, where the factory is situated.
Remarkably, mass production began just eight months after the construction started, exemplifying the rapid pace often associated with Tesla’s operations in China. This follows the precedent set by the Shanghai Gigafactory, which was built and inaugurated within a year in 2019.
At the launch ceremony on Tuesday, Mike Snyder, Tesla’s vice president, remarked, “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,” expressing optimism that this new facility will serve as a vital component of Tesla’s global production framework.
