Tesla Inc's (NASDAQ:TSLA) Shanghai Megafactory, dedicated to producing energy storage products, has completed construction just seven months after breaking ground in May, according to Xinhua News Agency.
Located near Tesla's vehicle assembly plant in Lingang, the facility has entered trial production and targets mass production by early 2025.
This is Tesla's first energy storage project outside the US, primarily manufacturing the Megapack, a large-scale commercial energy storage battery.
The factory aims to produce 10,000 Megapacks annually, equivalent to 40 GWh of energy storage, sufficient to power 50,000 Shanghai homes for a year.
Shanghai Lingang Economic Development Group has become its first customer. Tesla's energy storage lineup also includes Powerwall and Powerpack, alongside Megapack, supporting global grid stabilization.