On the afternoon of May 23, Tesla's first energy storage factory named Megafactory outside the United States landed in Shanghai and officially started work, which is located in the Lingang section of Shanghai Pilot Free Trade Zone.

Wu Xiaohua, deputy secretary of the Party Working Committee of the Lingang section of Shanghai Pilot Free Trade Zone, revealed that the negotiation of the Shanghai energy storage super factory to sign the contract took only 1 month, once again refreshing the "Lingang speed".

Tesla Shanghai Megafactory project covers a total area of about 200,000 square meters, with a total investment of about 1.45 billion yuan.

At the site of the groundbreaking ceremony, Tesla also completed the signing with Lingang Group, which marked the opening of a new chapter for Tesla's energy storage business in China.

According to previous planning, Tesla Shanghai energy storage super factory will achieve mass production in the first quarter of 2025. The initial plan is to produce 10,000 commercial energy storage batteries per year, and the energy storage scale is nearly 40 Gwh（gay-watt-hour）. Each commercial energy storage battery can store more than 3 Mwh（mega-watt-hour） of energy.

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Mike Snyder, Senior Director of Tesla Energy and Charging Business, stated that, Megapack has excellent performance and can be integrated with battery modules, inverters, and temperature systems for installation, helping the power grid operate more stably and sustainably. In addition, each battery module is equipped with a dedicated inverter, which can improve energy efficiency and safety.

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