'Tesla's New Mega Factory Project In Shanghai Granted Construction Permit' - Xinhua
Portfolio Pulse from Benzinga Newsdesk
Tesla Inc. has received a construction permit for a new mega factory in Shanghai's Lingang new area, marking its first energy storage mega factory outside the U.S. This facility is expected to start mass production in Q1 2025, aiming to produce 10,000 Megapack units annually, which equates to nearly 40 GWh of energy storage. The Megapack is designed to provide substantial energy storage and support, contributing to grid stabilization and outage prevention.

May 13, 2024 | 2:13 pm
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Tesla's new Shanghai mega factory, focusing on energy storage, marks a significant expansion of its global manufacturing capabilities. Expected to start production in 2025, this move could significantly boost Tesla's energy storage business and contribute to its revenue growth.
The construction of a new mega factory in Shanghai represents a strategic expansion for Tesla, particularly in the energy storage market. Given the factory's focus on producing Megapacks, a product critical for energy storage and grid stability, this development is likely to be viewed positively by investors. The anticipation of increased production capabilities and entry into new markets could drive investor optimism, potentially leading to a short-term positive impact on Tesla's stock price.
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