Tesla Developing New Shanghai Plant

Tesla is developing a new plant in Shanghai, China, to manufacture the company’s Megapack battery.

The move comes as tensions continue to grow between the U.S. and China.

The factory will “supplement output of Megapack factory in California,” according to a tweet by Elon Musk, and can produce 10,000 Megapacks each year.

Reporting from Daily Caller:

Tesla’s new factory is planning to begin production in the second quarter of 2024, Chinese outlet Xinhua News Agency reported Sunday, and each Megapack can hold sufficient energy to power an average of 3,600 homes for an hour, according to Tesla. China is the company’s second-largest market and made up almost 25% of the company’s revenue in 2022, according to the WSJ.