Tesla (TSLA) to open new Megafactory in Shanghai focused on battery production
Tesla announced plans to establish a Megafactory in China that will prioritize production of Megapack batteries for its vehicles.
It would seem Tesla is gearing up to directly address one of the major speed bumps in its overall vehicle production. Throughout the last couple years, Tesla has stressed that acquisition of materials for its Megaback vehicle batteries is one of the most difficult challenges it faces. This last weekend, the company announced it would be establishing a Megafactory in Shanghai, China, with the factory’s primary function being the production of new Megapacks for Tesla’s other products.
Tesla announced its plan to begin building a Megafactory in Shanghai via the official Tesla Twitter on April 9, 2023. Additionally, CEO Elon Musk shared that the new factory’s production will work to directly benefit output of a Tesla factory in California. Ideally, once the Shanghai Megafactory is up and running, it should be capable of producing up to 10,000 Megapacks a year and the factory should be operational by around mid-2024.
Tesla’s battery shortages have been a primary concern for the company for a while now. Not only did Tesla file for a $776 million USD expansion to its Texas Gigafactory to aid in battery production, but the company has also been eyeing another location in Texas for a lithium refinery in late 2022. Elon Musk has even gone as far as to say that being involved in lithium refinery right now could be considered a “license to print money.”
With such resolute determination to expand its efforts in the refinery and battery production sectors, Tesla seems to be moving aggressively to stomp out the battery shortage woes that have plagued its output for some time now. As the company moves to establish this new Shanghai Gigafactory, stay tuned for more details and updates here at Shacknews.
TJ Denzer posted a new article, Tesla (TSLA) to open new Megafactory in Shanghai focused on battery production
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