Elon Musk’s automaker will break ground on the plant in the third quarter and start production in the second quarter of 2024
Complementing a huge existing Shanghai plant making electric vehicles, the new factory will initially produce 10,000 Megapack units a year, equal to around 40 gigawatt hours of energy storage, to be sold globally, Xinhua said.
Tesla generates most of its money from its electric car business, but Musk has committed to grow its solar energy and battery business to roughly the same size. Tesla currently has a Megafactory in Lathrop, California, capable of manufacturing 10,000 Megapacks per year. Tesla planned to expand the Gigafactory Shanghai, its most productive automaking plant, to add an annual capacity of 450,000 units, Reuters reported last May.
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