(CTN News) – According to Chinese state media, Tesla has recently acquired land in Shanghai to establish a megapack battery manufacturing plant.
The production of these batteries is expected to begin in the fourth quarter of 2024. The government has stated that Tesla purchased a 19.7-hectare plot for 222.42 million yuan ($31.13 million).
This site is conveniently located near an existing plant that currently manufactures Model 3 and Model Y vehicles. As of now,
Tesla has not provided any response to the request for comment regarding this development.
The construction of this megapack battery manufacturing plant, which will have the capacity to produce 10,000 megapacks annually, is scheduled to commence in the first quarter of 2024, with production starting in the fourth quarter.
It is worth noting that in April, Tesla announced plans to begin construction in the third quarter of this year, with production expected to start in the second quarter of next year.
However, it seems that the timeline has been adjusted.
Tesla’s gigafactory in Shanghai currently has an annual capacity of 1.1 million units, and the company has expressed its desire to expand its electric vehicle capacity in Shanghai, pending regulatory approval.
This move to establish a megapack battery manufacturing plant aligns with expanding its presence and production capabilities in China, which is the world’s largest electric vehicle market.