Tesla will build a new battery factory in Shanghai, increasing investment in China at a time of brewing tensions between Beijing and Washington.
Tesla will manufacture its Megapack large-scale energy-storage unit in the new facility, which adds to its factory for electric vehicles in Shanghai. The company led by Elon Musk, who is said to be visiting China this weekend, made the announcement at a signing ceremony for the project in Shanghai. Tom Zhu, Tesla’s senior vice president of automotive, and Shanghai government officials including vice mayor Wu Qing attended, with Tesla Vice President Tao Lin signing the contract.
The new manufacturing projects give a boost for Chinese industry as other firms like Apple rethink production in the nation amid heightened tensions with the US over everything from an alleged Chinese spy balloon being shot down over American skies to Beijing’s partnership with Russian President Vladimir Putin.The Megapack is intended as a massive battery to help stabilise energy grids, with the company saying each unit can store enough energy to power an average of 3600 homes for one hour.
Authorities rolled out the red carpet to help Tesla set up its first plant outside the US in early 2019, and Shanghai government officials assisted the company with resuming production in a timely manner after pandemic-related disruptions.
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