ALBAWABA - Tesla has announced plans to build a factory in Shanghai, China to manufacture its "Megapack" batteries.
The factory is expected to begin production in 2024 with an initial capacity of 10,000 Megapacks per year.
The purpose of the batteries is to store energy and stabilize power grids, with each unit capable of storing over 3 megawatt-hours of energy.
This will be Tesla's second factory in Shanghai after the massive Shanghai Gigafactory, which began operating in 2019.
