Beautiful Virgin Islands


Tesla to build new battery factory in Shanghai

Tesla to build new battery factory in Shanghai

Elon Musk's electric car company Tesla says it is expanding in China as it builds a new factory to make its large-scale batteries.
The plant in Shanghai will be able to produce 10,000 of its "Megapack" energy storage units a year, the firm says.

A Megapack is a very large battery that can be used to help stabilize energy grids and prevent power outages.

Tesla already has Megapack plant in California, which also produces 10,000 of the units each year.

Musk said on Twitter that the new Chinese plant will be in addition to Tesla's US factory.

Building work on the new Megapack plant in China is expected to begin later this year, with battery production due to get underway by the summer of 2024, according to Chinese state media outlet Xinhua.

Tesla did not immediately respond to a BBC request for comment.

China is the biggest producer of batteries, which Tesla will be able tap into to increase production and lower costs.

The announcement came as the US government has been pressing American companies to become less reliant on China amid rising tensions between Beijing and Washington.

Last year, US technology firms that receive federal funding were banned by the Biden administration from building "advanced technology" facilities in China for 10 years.

The guidelines were part of a $50bn (£40bn) plan aimed at building up the US semiconductor industry.

In August, Mr Biden signed a law committing $280bn to high tech manufacturing and scientific research, amid fears that the US is losing its technological edge to China.

In 2019, Tesla opened its first factory outside the US in Shanghai. The plant currently produces 22,000 vehicles a week.

Tesla also makes cars near Berlin in Germany and announced plans for another overseas plant in Monterrey, Mexico.

China, which is the world's largest car market, has seen a sharp drop in vehicle sales this year as the economy slows.

Last month, Tesla cut the prices on models made at its Shanghai plant as it faced a backlog of unsold vehicles and tough competition in the country.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
World Court Orders Immediate Halt to Israeli Offensive in Gaza
I have a dream, MLK inspiring speech
Understanding FLiRT COVID Variants and Their Impact
Aretha Franklin, Marvis Staples - Oh Happy Day
Baltic NATO Members to Construct 'Drone Wall'
BVI Freedom Song
Global Life Expectancy Dropped By 2 Years Due To COVID-19
Billy Preston - You Can't Beat God Giving (Live)
Macron Halts New Caledonia Voting Reform After Riots
VIRGIN ISLANDS REGGAE CARIBBEAN RIDDIMZ
Rishi Sunak Shelves Rwanda and Smoking Policies Ahead of Election
Oh Happy Day Edwin Hawkins - Anthony Brown w FBCG Combined Choir
US Refuses World Court Jurisdiction
'Stand by Me' performed by Karen Gibson and The Kingdom Choir
China Conducts Surprise Military Drills Around Taiwan
National Anthem of the British Virgin Islands - Oh, Beautiful Virgin
Grim Polls Predict Major Loss for PM Rishi Sunak
Hello Dolly
Rishi Sunak's Campaign for UK Election: Key Issues Highlighted
for KING & COUNTRY - Amen (Reborn) [feat. Lecrae & The WRLDFMS Tony Wi
German Property Crisis Worsens as Foreign Investment Declines
Bob Marley - Get Up Stand Up
Princess of Wales's Taskforce Calls for Business Investment in Early Childhood
Yes He Can
Campaign Groups Condemn UK Report on Protests
What A Friend We Have In Jesus
Former Royal Marine Charged with Espionage Found Dead
Unforgettable
Australian PM Calls for Julian Assange's Freedom
Touch The Hem Of His Garment
ICC Seeks Arrest Warrants for Israeli and Hamas Leaders
The Lord's Prayer
UK's Infected Blood Scandal: Conclusion Nears After Seven Years
THE GOD MOVEMENT...BEAUTIFUL BVI
Julian Assange Granted Right to Challenge US Extradition
Siyahamba
Congo Army Thwarts Attempted Coup Involving Americans and a British Citizen
Ray Charles And The Voices Of Jubilaton, Oh, Happy Day
Ireland's Homeless Gain Voting Rights
Ramblin' Rose
Blinken orders crackdown on Israel-Hamas leaks
Protoje - Who Knows ft. Chronixx
Julian Assange Faces US Extradition: Key Facts
Pressure - Virgin Islands Nice
Jacob Zuma Takes Campaign to ANC Stronghold Soweto
Phil Wickham - House Of The Lord
Attempted Assassination of Slovakia PM Robert Fico: Investigation Ongoing
My God Is Real (Yes, God Is Real)
What Happens If an Iranian President Dies in Office?
The Lion King Circle of Life by LEBO M. — LIVE at the HAVASI Symphonic
Spain Recalls Ambassador After Argentina President's Remarks
Louis Armstrong - When The Saints Go Marching In
Rishi Sunak Faces Cabinet Backlash Over Proposed Changes to Foreign Student Visas
Kanye West Sunday Service - hallelujah, salvation, and glory
Rwanda Denies Entry to Human Rights Researcher
Jonathan Nelson - I Believe (Island Medley
Iranian President Ebrahim Raisi Reportedly Killed in Helicopter Crash
From The Virgin Islands Sqad Up
Blue Origin Resumes Space Tourism with 90-Year-Old Ed Dwight
Common, John Legend - Glory
Rishi Sunak and Wife Akshata Murty Wealthier Than King Charles
Anthony Evans vs. Jesse Campbell - If I Ain't Got You
New Dutch Government Drives Wedge Through EU Liberals
I have a dream, MLK inspiring speech
Iranian President Raisi Missing After Helicopter Goes Down
Aretha Franklin, Marvis Staples - Oh Happy Day
Freemasons and ‘Global War Party’ Accused of Conspiring Against Georgia
BVI Freedom Song
Poland Supports Rolls-Royce's Nuclear Power Plant Initiative
Billy Preston - You Can't Beat God Giving (Live)
European Ports Overflow with Unsold Electric Vehicles
VIRGIN ISLANDS REGGAE CARIBBEAN RIDDIMZ
Esprit Files for Bankruptcy in Europe, Putting Hundreds of Jobs at Risk
Oh Happy Day Edwin Hawkins - Anthony Brown w FBCG Combined Choir
Chevron Halts North Sea Drilling Amid Rising Tax Burden
'Stand by Me' performed by Karen Gibson and The Kingdom Choir
Jeremy Hunt Accused of Exaggerating Conservatives' Economic Record
National Anthem of the British Virgin Islands - Oh, Beautiful Virgin
Victoria Atkins Discusses Historical Gender Bias in the NHS
Hello Dolly
Dublin and Monaghan Bombings 50th Anniversary: Calls for Justice
for KING & COUNTRY - Amen (Reborn) [feat. Lecrae & The WRLDFMS Tony Wi
Rishi Sunak and Akshata Murty’s Wealth Rises to £651 Million
Bob Marley - Get Up Stand Up
New Caledonia Riots Escalate After French Voting Rights Change
Yes He Can
Renters Face Fierce Competition as Listing Times Shrink
What A Friend We Have In Jesus
Surge in Fake Science: 19 journals shut down due to fraudulent papers from 'paper mills'
Unforgettable
Global Birthrates Decline, Raising Economic and Social Concerns
Touch The Hem Of His Garment
Boeing Faces Possible Prosecution Over 737 MAX Settlement Violation
The Lord's Prayer
Prisoner Escapes in France as Two Officers Killed in Van Ambush
THE GOD MOVEMENT...BEAUTIFUL BVI
German Court Rules AfD Can Be Monitored for Extremism
Siyahamba
Jacob Rees-Mogg Criticizes Bank of England’s Inflation Strategy
Ray Charles And The Voices Of Jubilaton, Oh, Happy Day
×