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Reports: Tesla plans Shanghai factory for power storage

By Associated Press

April 9, 2023

Business

ASSOCIATED PRESS / 2019 A sign bearing the Tesla company logo is displayed outside a Tesla store in Cherry Creek Mall in Denver, Colorado. Tesla’s first-quarter vehicle sales in 2023 rose 36% after the company cut prices twice in a bid to stimulate demand.

ASSOCIATED PRESS / 2019

A sign bearing the Tesla company logo is displayed outside a Tesla store in Cherry Creek Mall in Denver, Colorado. Tesla’s first-quarter vehicle sales in 2023 rose 36% after the company cut prices twice in a bid to stimulate demand.

BEIJING >> Electric car maker Tesla Inc. plans to build a factory in Shanghai to produce power-storage devices for sale worldwide, state media reported Sunday.

Plans call for annual production of 10,000 Megapack units, according to the Xinhua News Agency and state television. They said the company made the announcement at a signing ceremony in Shanghai, where Tesla operates an auto factory.

The factory is due to break ground in the third quarter of this year and start productions in the second quarter of 2024, the reports said.

Tesla didn’t immediately respond to requests for information.

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