Tesla Megapack at Moss Landing, California
Andrew Evers | CNBC
Tesla will open a new Megafactory in Shanghai, China, capable of manufacturing 10,000 Megapacks per 12 months, the company announced on Twitter on Sunday.
Megapak is a very large battery that stores energy, helps stabilize the power grid and prevents blackouts. These batteries allow grid operators to maneuver extra power between counties or states and supply storage and use of intermittent power when demand is higher or when there are unscheduled outages in the transmission grid.
Tesla currently has a Megafactory in Lathrop, California, capable of manufacturing 10,000 megapacks a 12 months, based on company website. IN Sunday on TwitterTesla CEO Elon Musk said the factory in China will complement production from the factory in California.
The company plans to begin construction of the factory in the third quarter of this 12 months, with production expected to begin around mid-2024, Chinese state media reported. Xinhua reported Sunday from the signing ceremony in Shanghai.
Tesla and Musk didn’t immediately reply to requests for comment.