Shanghai, Feb. 11 -- U.S. carmaker Tesla's new Megafactory in Shanghai, dedicated to manufacturing its energy-storage batteries, known as Megapacks, launched production on Tuesday, marking a significant expansion of the company's presence in China.
With an initial annual production capacity of 10,000 units, or roughly 40 gigawatt-hours of energy storage, this Megafactory is set to significantly contribute to Tesla's global energy storage goals. The company anticipates a year-on-year increase of 50 percent in energy storage deployments in 2025.
Covering an area of approximately 200,000 square meters, the new Shanghai plant represents a total investment of about 1.45 billion yuan (around 202 million U.S. dollars), according to the adminis...