Construction of Tesla's Shanghai Megafactory reportedly nears completion

Shanghai (Gasgoo)- US electric vehicle maker Tesla's Shanghai Megafactory is anticipated to complete construction by the end of 2024, just seven months after breaking ground in May, marking a faster build speed than its Gigafactory, according to reports from local media outlets.

On May 23 this year, Tesla and Lingang Group signed a procurement agreement for China's first batch of ultra-large commercial energy storage system, Tesla Megapack.

The Shanghai Megafactory plans to start operation in the first quarter of 2025. It is expected to produce 10,000 units of large-scale commercial energy storage systems (namely, Megapack) annually, reaching a total storage capacity of nearly 40 GWh. The products will be supplied to the global markets.

According to Tesla, each Megapack unit boasts a storage capacity exceeding 3.9 MWh, capable of powering 3,600 households for an hour. Over 200 units of Megapack can be assembled to form an energy storage plant, with an energy capacity of 1 million kWh, sufficient to supply a metropolis like San Francisco with six hours of power needs.

Tom Zhu, Tesla's Senior Vice President, highlighted that the Shanghai Megafactory is Tesla's first energy storage facility outside the United States and marks another milestone investment in China over the past decade. "This factory signifies Tesla's global expansion in energy storage and underscores its pivotal role in the global energy transition," Zhu stated.

Tesla’s Gigafactory Shanghai, adjacent to the Shanghai Megafactory, has exceeded an annual production capacity of 950,000 pure electric vehicles, serving as a core export hub within Tesla's global production network.