Tesla Announces to Construct Megapack battery Factory in China
Tesla is expanding its presence in China by building a new battery factory in Shanghai. The automaker has announced that it will commence the construction of a new Megapack facility later this year, which will be capable of producing 10,000 Megapacks annually. The Megapack is composed of battery modules assembled into a large enclosure. It is subsequently set up on a concrete foundation at the customer’s location. Each Megapack unit can store up to 3 megawatt-hours (MWh) of energy and generate up to 1.5 megawatts of power (MW).
These container-sized batteries can store enough energy to power about 3,600 homes for one hour. Tesla plans to sell the Megapacks it produces in China globally, including in places such as Texas and South Australia where it has already built Megapack installations.
However, this move to increase reliance on China comes at a time when the US government is encouraging automakers and manufacturers to produce more of their products domestically. In updated guidance issued last month, the Treasury Department stated that electric vehicles must source the minerals in their batteries from the US and other approved trading partners to qualify for the $7,500 EV tax credit under the Inflation Reduction Act.
Additionally, the Biden administration recently announced that CHIPS Act funding recipients would need to promise not to expand production capacity in China.
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