Tesla has officially launched its new Megapack project in Shanghai with an annual production capacity goal of 10,000 Megapacks, according to a report from Xinhua today.
$200 million factory
• Q1 2025 start of production (35% quicker construction time than
Tesla's Lathrop, CA Megapack factory)
• Initial capacity of 10,000 units per year (40 GWh)
• $10B-$15B of revenue per year from this one factory
• New factory covers an area of ~200,000 square meters
• Aims to export Megapacks to overseas markets, including the Asia-Pacific region, to support the global "green future"
Tesla China is making big moves, purchasing land for the Megapack Factory and getting construction permits for it.
• Shanghai is speeding up the construction of self-driving pilot zones, showing strong government backing for autonomous vehicle tech.
• BYD has bought Yi'an P&C Insurance Co. and got the green light to operate in China's insurance industry.
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