Tesla announced that it will build a new megafactory in Shanghai, which will be dedicated to manufacturing the company's energy-storage product Megapack.
The new plant is scheduled to break ground in the third quarter of this year and start production in the second quarter of 2024.
The factory will initially produce 10,000 units of Megapack every year, equal to approximately 40 GWh of energy storage. The products will be sold worldwide.
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