The links between Elon Musk The US and China are stronger than ever, despite the stresses in today’s world. Tesla will build a new battery factory in Shanghai, which would open in the second half of 2024.
megapack, the name of the battery for electric vehicles, is manufactured in a few places in the world, such as Texas and South Australia. Now expand your horizons even furtherreinforcing the sale of vehicles in the Asian giant.
Elon Musk would have even visited China this month, according to Bloomberg. However, what transpired is that at the signing of the project in Shanghai were Tom Zhu, senior vice president of Tesla; Tao Lin, vice president of the company, and public officials.
Let’s remember that Musk’s company already had a vehicle factory in the city. Construction of the Megapack factory will begin in the third quarter of 2023, with production beginning in the second quarter of 2024.
Press reports indicate that Tesla produced nearly 711,000 electric cars in China last year, 52% of its world production, even despite the Asian country’s Covid Zero policy.
Tesla, beyond batteries in China, what else will Elon Musk’s company produce?
But not only Tesla car batteries will be launched, but also cells for energy storage on a grid scale.
Bloomberg notes, citing the International Energy Agency, that “there were about 19.3 gigawatt-hours of stationary battery storage installed at the end of 2020 (…) it is likely to grow to over 150 gigawatt-hours by 2026.”
For Elon Musk, storage needs to be combined with renewable energy to do much of the heavy lifting in decarbonizing electricity and greening industrial sectors.”
“Tesla’s master plan,” notes Bloomberg, “forecasts that around 46,200 gigawatt-hours of stationary battery storage should be installed over the next 20 years.”