Tesla China’s Vice President of External Affairs, Grace Tao, provided an update on the company’s upcoming Megafactory in Shanghai. According to Tao, Tesla’s Megafactory construction in Shanghai is about 45% complete.
“Now, Tesla’s first energy storage Gigafactory outside the United States is also speeding up construction, with the progress reaching about 45%, striving to run at ‘Tesla speed’ and ‘Lingang speed’ again,” wrote Tao in a Weibo post.
The speed of Tesla’s Megafactory construction has awed people following its progress since it has only been a few months since it started. The company officially started construction on its Tesla Megafactory in May 2024. The Megafactory will produce Tesla’s Megapack batteries in the Lingang area near Gigafactory Shanghai. Tesla’s Megafactory complex spans about 200,000 square meters or 49.4 acres.
Tesla’s Shanghai Megafactory is expected to have an annual capacity of 10,000 Megapack batteries, about 40GWh worth of energy storage. Tesla China’s Senior Vice President Tom Zhu noted that 10,000 Megapacks could power up to 50,000 homes in Shanghai for an entire year.
Tesla aims to start Megapack production at the Shanghai Megafactory by the first quarter of 2025, less than a year after construction began.
According to Tesla during its Q2 2024 earnings call, the company’s energy storage deployments have more than doubled thanks to Megapack and Powerwall. Tesla reported record revenues and profit from its energy business.
During the second quarter earnings call, Elon Musk noted that Tesla China’s Megafactory could double or maybe even triple its Megapack deployments.
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