Tesla New Battery Plant Cements China’s Place in Energy Storage
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Tesla Inc. will build a large new battery factory in Shanghai, further cementing China's place at the top of the global energy storage supply chain.The US electric car pioneer will manufacture its Megapack large-scale energy-storage unit in the new facility, which adds to its factory for EVs in Shanghai. The company led by Elon Musk, who is said to have visited China last weekend, made the announcement at a signing ceremony for the project in Shanghai on Sunday. Tom Zhu, Tesla's senior vice president of automotive, and Shanghai government officials including Vice Mayor Wu Qing attended, with Tesla Vice President Tao Lin signing the contract. Construction is scheduled to begin in the third quarter of this year and the plant will commence production in the second quarter of 2024, t...