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Tesla announces new Megafactory in Shanghai that can produce 10K Megapacks per year

Image Credit: Tesla/Twitter

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Tesla is set to expand its energy storage business in China by constructing a new Megafactory in Shanghai’s Lingang area. The facility will effectively bring Tesla’s flagship battery storage product to the world’s largest electric vehicle market.

As confirmed by the EV maker on its official social media accounts, Tesla signed an agreement on April 9 with Shanghai’s Lingang special area administration to build a Megafactory in the area. The facility marks Tesla’s first foray into energy storage production outside the United States.

Construction of the facility is expected to start in Q3 2023, with production slated to begin in Q2 2024. The facility is planned to have an initial production capacity of 10,000 units per year, or almost 40 GWh worth of energy storage. Megapacks produced at the Shanghai Megafactory are expected to be supplied to global markets. 

In line with the upcoming energy storage project, Tesla opened a job listing for a Megapack project manager position in Shanghai last month. CEO Elon Musk, for his part, noted on Twitter that the new facility would supplement the output of Tesla’s first Megafactory in Lathrop, California

Tesla’s Gigafactory Shanghai, which produces the Model 3 sedan and Model Y crossover, is also located in the Lingang area of Shanghai’s Pudong new district. The facility began operations in 2019 and has since become Tesla’s largest global EV production site by volume. The facility also serves as the company’s primary vehicle export hub.

The Megapack is an advanced battery system designed for large-scale energy projects. As per Tesla’s official webpage for the flagship battery system, each Megapack can store over 3 MWh of energy, which is enough to power about 3,600 homes for an hour. In the United States, the Megapack is listed with a price of $1,879,840 for a 2-hour unit without installation in California. With installation, the price of a similarly-specced battery is listed at $2,669,050.

Tesla’s Megapack batteries seem to have captured a lot of interest. On its order page on Tesla’s official website, the earliest desired delivery date for the Megapack is currently listed for Q1 2025.

Deputy Secretary General of the Shanghai municipal government, Zhuang Mudi, stated that Tesla’s Giga Shanghai project five years ago captured global attention, and it helped establish Shanghai as a key player in the development of the new energy vehicle industry. The official expressed optimism that Tesla’s Megafactory would have a similar impact.

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“We are witnessing the signing of the Tesla Megafactory project today, which will be an important force in promoting the development of Shanghai’s new energy storage industry and green low-carbon transformation,” Zhuang said.

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla Superchargers open to Lucid Air, but not without one key thing

Lucid’s full lineup of EVs is now able to use Tesla Superchargers in the United States and Canada.

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Tesla Superchargers will be open to Lucid Air vehicles starting on July 31, a move that comes nearly two years after the companies agreed to terms that would allow them to partner.

Lucid joins a long list of EV makers that have a full lineup of EVs that can utilize Tesla’s extensive Supercharger Network across the United States and parts of Canada. In all, over 32,500 Tesla Superchargers will be accessible to Lucid owners at the end of the month.

Lucid NACS adoption ‘must have been a bitter pill to swallow’: Elon Musk

All Air models, regardless of year or trim level, will gain access to the entire North American Tesla Supercharger Network. It will just need one key thing to charge: an NACS adapter.

Lucid Air sedans will require a DC NACS to CCS1 adapter in order to enable charging at the Tesla stalls. These will be priced at $220 plus tax.

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Emad Dlala, Senior VP of Powertrain at Lucid, said:

“In addition to offering the longest-range electric vehicle available, Lucid is committed to offering our customers seamless and wide access to public charging. Access to the Tesla Supercharging Network for the Lucid Air is yet another major milestone.”

Charging speeds will allow Air EVs to charge at up to 50 kW, gaining up to 200 miles of range per hour.

As for the Lucid Gravity, the company’s SUV, it will not require the adapter because of its native NACS port. It gained access to the Supercharger Network in January.

Although Lucid Airs will not be able to charge at the rate of some other vehicles, they do boast some of the best range ratings in the EV industry. Having the luxury of additional charging piles to access will increase the value of the long-range ratings Lucid offers with its vehicles.

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Lucid joins several other automakers that have a full lineup of EVs that have access to the Tesla Supercharger Network:

  • Ford
  • Rivian
  • General Motors (Chevrolet, GMC, Cadillac)
  • Volvo
  • Polestar
  • Nissan
  • Mercedes-Benz
  • Hyundai
  • Kia
  • Genesis
  • Honda
  • Acura
  • Aptera

Other brands, like BMW, Audi, Volkswagen, Porsche, and Subaru, are expected to gain access in the near future.

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Tesla Robotaxi wins over firm that said it was ‘likely to disappoint’

Tesla Robotaxi recently won over a Wall Street firm that had recently said the platform was “likely to disappoint.”

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tesla robotaxi app on phone
Credit: Tesla

Tesla Robotaxi recently won over a Wall Street firm that had recently said the platform was “likely to disappoint.” The ride-hailing service has been operating for about a month, and driverless rides have been offered to a small group of people that continues to expand nearly every day.

JPMorgan went to Austin to test the Tesla Robotaxi platform, and it did so just a few weeks after listing Tesla as one of its “six stocks to short” in 2025. Highlighting the loss of the EV tax credit and labeling the Robotaxi initiative as one that was “likely to disappoint,” despite Tesla’s prowess in its self-driving software.

Analyst Ryan Brinkman has been skeptical of Tesla for some time, even stating that the company’s “sky-high valuation” was not in line with other stocks in the Magnificent Seven.

However, a recent visit to Texas that was made by JPMorgan analysts proved that the Robotaxi platform, despite being in its earliest stages, was enough for them to change their tune, at least slightly. The firm gave its props to the Tesla Robotaxi platform in a note by stating it was “certainly solid and felt like a safe ride at all times.”

It’s always nice to hear skeptics report positive experiences, especially as Robotaxi continues to improve and expand.

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Tesla has already expanded its geofence for the Robotaxi suite in Austin, picking a very interesting shape for its newest boundaries:

Tesla’s Robotaxi expansion wasn’t a joke, it was a warning to competitors

As Robotaxi expands, Tesla is dealing with competition from Waymo, another self-driving ride-hailing service that is operating in Austin, among other areas. After Tesla’s expansion, which brought its accessible area to a greater size than Waymo’s, it responded by doubling its geofence.

Waymo’s expansion surpassed Tesla’s size considerably, and it seems Tesla is preparing to expand its geofence in the coming weeks.

Waymo responds to Tesla’s Robotaxi expansion in Austin with bold statement

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The Robotaxi platform is not yet available to the public, but Tesla has been inviting more people to try it with every passing day. Currently, the map is roughly 42 square miles, but many believe Tesla is able to broaden this by a considerable margin whenever it decides.

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Investor's Corner

Tesla needs to confront these concerns as its ‘wartime CEO’ returns: Wedbush

Tesla will report earnings for Q2 tomorrow. Here’s what Wedbush expects.

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Credit: Tesla

Tesla (NASDAQ: TSLA) is set to report its earnings for the second quarter of 2025 tomorrow, and although Wall Street firm Wedbush is bullish as the company appears to have its “wartime CEO” back, it is looking for answers to a few concerns investors could have moving forward.

The firm’s lead analyst on Tesla, Dan Ives, has kept a bullish sentiment regarding the stock, even as Musk’s focus seemed to be more on politics and less on the company.

However, Musk has recently returned to his past attitude, which is being completely devoted and dedicated to his companies. He even said he would be sleeping in his office and working seven days a week:


Nevertheless, Ives has continued to push suggestions forward about what Tesla should do, what its potential valuation could be in the coming years with autonomy, and how it will deal with the loss of the EV tax credit.

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Tesla preps to expand Robotaxi geofence once again, answering Waymo

These questions are at the forefront of what Ives suggests Tesla should confront on tomorrow’s call, he wrote in a note to investors that was released on Tuesday morning:

“Clearly, losing the EV tax credits with the recent Beltway Bill will be a headwind to Tesla and competitors in the EV landscape looking ahead, and this cash cow will become less of the story (and FCF) in 2026. We would expect some directional guidance on this topic during the conference call. Importantly, we anticipate deliveries globally to rebound in 2H led by some improvement on the key China front with the Model Y refresh a catalyst.”

Ives and Wedbush believe the autonomy could be worth $1 trillion for Tesla, especially as it continues to expand throughout Austin and eventually to other territories.

In the near term, Ives expects Tesla to continue its path of returning to growth:

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“While the company has seen significant weakness in China in previous quarters given the rising competitive landscape across EVs, Tesla saw a rebound in June with sales increasing for the first time in eight months reflecting higher demand for its updated Model Y as deliveries in the region are starting to slowly turn a corner with China representing the heart and lungs of the TSLA growth story. Despite seeing more low-cost models enter the market from Chinese OEMs like BYD, Nio, Xpeng, and others, the company’s recent updates to the Model Y spurred increased demand while the accelerated production ramp-up in Shanghai for this refresh cycle reflected TSLA’s ability to meet rising demand in the marquee region. If Musk continues to lead and remain in the driver’s seat at this pace, we believe Tesla is on a path to an accelerated growth path over the coming years with deliveries expected to ramp in the back-half of 2025 following the Model Y refresh cycle.”

Tesla will report earnings tomorrow at market close. Wedbush maintained its ‘Outperform’ rating and held its $500 price target.

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