Tesla continues the execution of its Master Plan 3 by announcing the construction of a Megafactory in Shanghai, China. The factory will produce Megapacks. Construction will start in Q3 2023.
At Investor Day, Tesla unveiled its Master Plan 3, one of the key components of which was the growth in the number of energy storage batteries around the world. The company already has one Megafactory, which produces Megapacks. It is located in the USA. However, this is clearly not enough to meet the demand, which continues to grow at a very fast pace, so the manufacturer continues to develop.
On Sunday, Tesla announced that it will build a Megafactory in Shanghai, China. There, the company will manufacture its large-scale Megapack power storage units. The new facility will complement the electric vehicle factory located there. Top representatives of the company visited China this weekend and made the announcement at the project signing ceremony in Shanghai.
The event was attended by Tom Zhu, Tesla's Senior Vice President of Automotive Operations and Tesla China Vice President Grace Tao (Tao Lin), who signed the contract. Shanghai government officials, including Vice Mayor Wu Qing, also attended the signing ceremony.
Construction of the Chinese Megafactory is scheduled to begin in Q3 2023. According to the plan, the factory will start production in Q2 2024. It is a very fast pace, but Tesla is good at it. The company is able to build quickly, and its speed is especially fast in China, where the government promotes the manufacturer at all levels.
The Megapack factory in China is a great strategic move. Firstly, it will increase production, which is very important. Secondly, by producing batteries in China, they can be quickly delivered to Europe, Australia, Africa, and other countries located in the nearest regions.
© 2023, Eva Fox | Tesmanian. All rights reserved.
We appreciate your readership! Please share your thoughts in the comment section below.
About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.