Tesla buys land for Shanghai battery factory, to make 10K units anually
Tesla Inc. has acquired land to build its Shanghai Megapack factory that will have capacity to produce 10,000 battery packs a year, according to a company representative, paving the way for construction to begin.
The US electric vehicle maker, which also runs other projects like energy storage and super computers, plans to break ground at the site in the first quarter of 2024, with production starting in the fourth quarter, Tesla said in a statement on Friday.
The construction timeline is similar to that of the nearby Tesla EV factory, which was built in the 12 months of 2019. The first cars rolled off the production line at the end of December that year.
