13th July 2024

Tesla breaks floor on large Shanghai battery plant

by AFP Workers Writers

Shanghai (AFP) Could 23, 2024

Tesla broke floor on an enormous battery manufacturing facility in Shanghai on Thursday, Chinese language state media reported, making it the US electrical automobile big’s second plant within the monetary hub.

The challenge was introduced final April after boss Elon Musk offered a obscure however formidable plan to traders to turbocharge development.

Nonetheless, the corporate final month reported a 55 p.c drop in quarterly earnings, reflecting a decline in EV gross sales in an intensively aggressive market.

The brand new Shanghai manufacturing facility ought to make 10,000 models per yr of Tesla’s Megapack batteries, state information company Xinhua stated.

Tesla says Megapacks are meant to retailer power and stabilise provide for energy grids, with every unit in a position to retailer greater than three megawatt-hours of energy.

The manufacturing facility is anticipated to begin mass manufacturing in 2025, state media stated in Could.

“I imagine the brand new plant is a milestone for each Shanghai and Tesla,” the corporate’s vp Tao Lin advised Xinhua.

“In a extra open surroundings, we are able to… provide the worldwide market with large-scale energy-storage batteries manufactured in China.”

Musk has in depth enterprise pursuits in China and is a reasonably frequent customer.

In April, he met Chinese language Premier Li Qiang, and obtained a key safety clearance for Tesla’s regionally produced EVs.

Musk’s pursuits in China have lengthy raised eyebrows in Washington — President Joe Biden has stated previously that his hyperlinks to overseas international locations have been “worthy” of scrutiny.

The battery plant shall be Tesla’s second within the Chinese language metropolis after its huge Shanghai Gigafactory, which broke floor in 2019.

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