Singular Bank | Tesla announced last week the construction of a factory in Shanghai where it will produce its Megapack, energy storage batteries used to stabilise power grids and prevent power outages, which it already manufactures at a plant in California (USA). The new plant will have a production capacity of 10,000 units per year and construction will begin in the third quarter of this year. This project will lower the cost base for the production of its ion batteries, which will serve to meet its demand for solar energy storage, something that fits in with the new growth plans of Elon Musk, the company’s founder. It should be remembered that Tesla makes most of its money from its electric car business, something that could gradually change as the solar and battery business grows.
Tesla prepares Shanghai factory to manufacture energy storage batteries to prevent power outages
