Tesla recently announced that is was planning on building a new battery factory in China. The site for the new Megapack factory is Shanghai with the construction of this site starting sometime later this year. So here are all details.
The popular electric vehicle maker announced back on Sunday that it will start construction of a new Megapack factory in Shanghai later this year. Following its completion, this site will be capable of manufacturing 10,000 Megapacks every year. As of right now, the factory is planned to be completed sometime before the second half of next year. For those unaware, each Megapack container sized battery can store enough energy to power around 3,600 homes for around one hour.
The company also told Bloomberg that it plans to sell these new Megapacks that it produce in China across the globe. For those unaware, Tesla has already built Megapack installations in a few locations around the world, this includes regions like Texas in the US and even South Australia. Interestingly enough, the announcement also shows the brand’s increasing reliance on China for its production process.
Although, this move also arrives as the US prepares to push automakers and others to manufacture their products locally through economic policies. To put things simply, the US government wants companies to source the minerals that they use in their car batteries from the US and other approved trading partners to receive incentives from the Inflation Reduction Act, which offers a 7,500 US Dollar EV tax credit.
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