Tesla, the renowned electric vehicle (EV) and clean energy company, is making a significant move by purchasing land in Shanghai for a new factory dedicated to producing its Megapack large-scale batteries. This development, initially reported by Xinhua, marks Tesla’s deepening commitment to China’s burgeoning new-energy market and its strategic expansion beyond electric cars.

Each Tesla Megapack battery can power 3,600 homes for one hour

The Shanghai factory, set to be located in the Lingang free-trade zone, will be Tesla’s first facility outside the US focused on energy-storage batteries. This move underscores the company’s ambition to not just lead in electric vehicle production but also in energy storage solutions. Tesla’s Megapack batteries, each capable of powering 3,600 homes for an hour, represent a crucial step in addressing energy storage needs, a key component of the renewable energy landscape.

Interestingly, this new venture comes at a time when the EV market in China is experiencing rapid growth and increased competition. Tesla has been a dominant player in China’s premium EV segment, thanks in part to its Gigafactory in Shanghai, which began operations in 2019. However, local Chinese companies like Li Auto and Xpeng are quickly catching up, breaking monthly sales records and offering stiff competition to Tesla.

The construction of the Megapack factory is a strategic response by Tesla, not only to cement its position in the EV market but also to tap into the larger new-energy sector in China. The country’s ambitious goals for peak carbon emissions by 2030 and carbon neutrality by 2060 present a vast opportunity for Tesla’s energy storage products. By localizing production, Tesla can better serve the Chinese market and also export these products to other countries. As the world shifts towards renewable energy and sustainable practices, Tesla’s latest move positions it as a key player not just in EVs but in the broader green energy revolution.

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(Via)

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Shanghai, a bustling metropolis, is on a mission to transform into a major world center for science and technology innovation. This ambitious goal hinges on attracting high-end talent in cutting-edge fields like fintech, smart manufacturing, and quantum science. The recent Pudong International Talent Hub Forum highlighted this push, revealing Shanghai’s strategic plan to become a global player in the sci-tech arena.

This is an ambitious initiative to foster smart minds and people

Dominique Turpin, a key figure at the China Europe International Business School, emphasizes the crucial role of global talent in rejuvenating the post-COVID-19 economy and keeping Chinese companies ahead in the competitive race. In pursuit of this talent, Shanghai has been rolling out attractive packages and comprehensive support, especially in the Pudong New Area. This zone is rapidly evolving into a talent magnet, showcasing Shanghai’s commitment to becoming a sci-tech powerhouse.

At the core of these efforts is the Pearl Project. It’s an ambitious initiative aimed at bringing in top-notch international minds in science and technology. Selected “Pearl Peak Talents” are rewarded generously, with incentives like substantial financial support and entrepreneurial assistance. The project’s impact is already evident, with over 800 talents chosen from thousands of applicants.

Shanghai’s focus isn’t just on attracting talent but also on creating an ecosystem where innovation thrives. Qi Yuxia, a local official, outlines the vision of Pudong as an integrated, innovative hub, attracting global minds and fostering a dynamic environment for scientific advancements.

However, the journey isn’t without challenges. Wang Hong, president of CEIBS, points out key areas needing attention, like achieving technological breakthroughs and enhancing Shanghai’s global scientific influence. Wang’s suggestions for overcoming these hurdles include building a solid industrial base, attracting international talent, and promoting Shanghai’s openness to the world.

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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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Shanghai, traditionally known for its advancements in finance, business, and technology, is now adding another feather to its hat by aiming to become an Industrial Robotic Leader. 

The city has seen a 6% increase in the YoY output of robots used in the intelligent manufacturing sector. In 2022, more than 75000 new robotic units were installed in Shanghai making it the number one city in China for Industrial Robotics. The local authorities of the Shanghai Municipal Commission of Economy and Informatization have hinted that the Robot Density in the city will increase by 100 in the next three years. 

Robot density is measured by the number of installations per 10000 employees. According to the latest IFR (International Federation of Robotics) report on Robot Density, South Korea is the undisputed leader, with a Robot Density of 1000 followed by Singapore, Japan, and Germany. However, China is also leading up to the race by surpassing the USA and reaching the fifth position with a density of 322.

To support the intelligent manufacturing and robotics sector, the Shanghai Metropolis is planning to build 10 industry-leading robot brands, 20 city-level smart factories, and more than 100 benchmark robot applications that will expand the industrial output to 100 billion yuan ($14.76 billion). By 2025, the local authorities are planning to build 20 City Level lead factories and 200 smart factories that will place the city on the global map of advanced industrial robotics.

Shanghai is the first city in China to include Robot Density statistics. According to the city-wide data, Shanghai has already surpassed twice the global average of Robot Density with the key industries accounting for a density of 383 and major enterprises showing a density of 260. According to Tang Enkan, deputy director of the Shanghai Municipal Commission of Economy and Informatization, Robots have become a part of the urban digital transformation of the city by becoming work assistants and life partners for the residents. 

The 14th Five-Year Plan of China focuses on the development of the Robotic Industry and states that the country aims to become a global hub for robotics and innovation by 2025. China is mobilizing massive resources and investments to develop the Robotic industry and has become the fastest growing Robot market in the world. By 2025 China wants to be considered a Global Leader in Robotics and Shanghai is making a major contribution to achieve this goal.

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(Source)

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Razer, the company known for making gaming products, has officially announced that the brand’s first experience store in China will be opened in Shanghai on 20th November. The official Shanghai Razer Experience Store is located at L6-06, Shanghai Raffles Square.

The experience store has several different zones, including a battle experience area, a professional player experience area, a mobile game experience area, a console experience area, and a claw machine experience area.

The company will be showcasing all of its products available in the market and the experience center is also designed with the company’s icon Neon Green color highlights.

In the first half of this year, the company registered a record-high revenue of $752 million, representing a 68 percent year-on-year growth, thanks to robust demand for the company’s hardware and ongoing growth in the services segment.

Razer also announced that its Gross Profit Margin improved 27.1 percent as compared to the 22 percent for the same period in 2020. The company reported a net profit of $31.3 million compared to a net loss of $17.7 million for the same period in the previous year.

For those who are unaware, Razer was founded in San Diego, California as a subsidiary of Karna LLC in 1998 and started making gaming peripherals. The firm stopped operations in 2000 due to financial problems. Later, in 2005, Razer was founded by Min-Liang Tan and Robert Krakoff, after they procured the rights to the Razer brand.

Earlier this year, in February, Razer CEO Tan Min-Liang announced the plan of moving the company’s Singapore headquarters to a larger building as it plans to hire for 1,000 new positions. The new headquarters officially opened on 26th October 2021, which was officiated by the Deputy Prime Minister of Singapore Heng Swee Keat.

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While other manufacturers such as Xiaomi, Huawei, OPPO, and Vivo are opening up new stores in cities in China, OnePlus is doing the opposite. A Canadian official announced earlier today that OnePlus will be closing down their Beijing and Shanghai stores on the 22nd of August (just 2 days from now).

The reason given is that the company is trying to deploy its limited resources to where it is most needed. The Beijing store was opened less than 2 years ago on the 20th of December, 2014 and now it will be closed down.

OnePlus has only manufactured 4 phones so far but also have a number of accessories such as earphones, cases, and power banks. Their first phone, the OnePlus 1, was sold on an invite only basis at first. Their new phone, the OnePlus 3  which has been getting positive reviews doesn’t use the invite system but has been facing issues with low inventory which has led to sales being temporarily halted for a month in 24 countries (mainly in Europe). Sales are expected to resume on September 12 (Let’s pray the red variant gets released).

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The company has said it will continue to adhere to the standard they have set with their flagship device and are also working towards increasing investment in software development.

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