US automotive company, Tesla, has announced it is building a Megafactory in Shanghai which will produce new Megapack power-storage devices in 2024.
In a tweet, US billionaire business magnate and Tesla’s CEO, Elon Musk said the move will “supplement output of [the] Megapack factory in California”.
A Megapack is a very large battery that stores energy, helps stabilise the power grid, and prevents outages. Each container-sized battery can store enough energy to power about 3,600 homes for one hour.
Construction is scheduled for the third quarter of this year and is expected to begin production once the plant is complete sometime before the second half of next year.
Tesla says the factory will be capable of producing 10,000 Megapacks annually.
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