The Megafactory will be Tesla's first energy storage system factory outside of its US domestic market, with an initial planned annual production capacity of up to 10,000 commercial energy storage batteries.
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Tesla's Megapack factory in Shanghai is scheduled to start construction in May and begin mass production in the first quarter of 2025, local media outlet The Paper said in a report today, citing sources at Tesla China.
Tesla's energy storage business has grown at a rapid pace in recent years, with installed capacity reaching 14.7 GWh in 2023, up 125 percent year-on-year, the report noted.
The latest timeline reported is a delay from the previously announced plan.
Tesla signed an agreement with Shanghai's Lingang authorities on April 9, 2023, to build a new Megafactory in the area, which will be dedicated to the production of the energy storage product Megapack.
The Megafactory will be Tesla's first energy storage system factory outside of its US domestic market. It's initially planned to produce up to 10,000 commercial energy storage batteries per year, with nearly 40 GWh of energy storage, and the products will be available to the global market.
Construction of the plant was scheduled to begin in the third quarter of 2023, with production commencing in the second quarter of 2024, according to an announcement by Lingang special area administration in April of last year.
On December 22, 2023, Tesla announced the official launch of the Megafactory project in Shanghai.
The Megapack is a battery that stores energy and supplies it to help stabilize the grid and prevent power outages.
Each Megapack unit can store more than 3 MWh of energy, enough to power 3,600 homes for an hour, according to Tesla's website.
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