Overview

• Tesla signed a 4 billion yuan ($556.4 million) agreement with the Shanghai government to deploy its first grid-scale battery storage facility.
• The company will install and operate Megapack systems designed to supplement local power grids and provide backup energy.
• Production at the Shanghai Megafactory began in February and the plant exported its first Megapacks in mid-March.
• The facility holds a permit to produce 10,000 Megapacks annually—equivalent to around 40 gigawatt hours of storage—by early 2026.
• Tesla’s Powerwall home batteries recently delivered over 6,000 hours of backup power during a widespread blackout in Spain and Portugal.