Tesla has reportedly acquired land in Shanghai for the construction of a megapack battery manufacturing plant. The new facility is expected to start production in the fourth quarter of 2024. The company paid 222.42 million yuan ($31.13 million) for the use rights to a 19.7-hectare plot near its existing Shanghai plant. The new plant, capable of producing 10,000 megapacks per year, will commence construction in the first quarter of 2024, with production slated to begin in the fourth quarter. Tesla’s expansion in Shanghai aligns with its goal to increase electric vehicle (EV) capacity in the region.
Tesla to build megapack battery plant in shanghai, production to begin Q4 2024.
