Tesla's Shanghai energy storage megafactory to be completed

Construction of U.S. carmaker Tesla's energy storage megafactory in Shanghai is expected to be finished by the end of this year, according to Tesla China.

The factory, which broke ground in late May, will be dedicated to manufacturing the company's energy-storage batteries, Megapack.

Covering an area of approximately 200,000 square meters, the new plant represents a total investment of around 1.45 billion yuan. Mass production is planned for the first quarter of 2025, with an initial output of 10,000 units annually.