Tesla Announces Plans to Expand Production of Megapack Battery Units in China

Tesla is building a new factory in Shanghai to massively increase production of its Megapack battery units.
The new factory will complement Tesla's existing Shanghai factory and initially produce 10,000 Megapack units per year.
Demand for large-scale energy storage is rapidly growing in China and globally as the world transitions to renewable energy.
Tesla aims to take advantage of China's strong battery supply chain and lower production costs to meet increasing demand for its Megapack units.