Tesla’s energy storage factory in Shanghai is about to be completed

On December 24, the reporter learned from Tesla that Tesla’s Shanghai energy storage super factory is about to be completed and is expected to be completed by the end of this year. It is expected to break through the construction speed of its vehicle super factory and complete the whole process from construction to completion in 7 months.

On May 23 this year, Tesla’s energy storage super factory started construction in Shanghai Lingang. After the groundbreaking ceremony, Lingang Group also signed a contract with Tesla for China’s first batch of ultra-large electrochemical commercial energy storage systems Megapack.

The energy storage super factory is another large-scale investment project in China after Tesla’s vehicle super factory in the past ten years since it entered China. It is understood that Tesla’s Shanghai energy storage super factory will be put into production in the first quarter of 2025, with an annual production capacity of 10,000 commercial energy storage batteries Megapack, with an energy storage scale of nearly 40GWh (gigawatt hours), and products will be supplied to the global market.

The energy storage business has become an important profit growth point for Tesla. According to Tesla’s third-quarter financial report in 2024, Tesla’s power generation and energy storage business revenue in the third quarter was US$2.376 billion, a year-on-year increase of 52.4%. The gross profit margin of the energy storage business reached 30.5%, a record high, significantly higher than the gross profit margin of its automotive business.

Shanghai has always been a key city for Tesla’s development in China. According to data released by Tesla, Shanghai is the city with the most Tesla supercharging stations in the country. At present, Tesla has built 204 Tesla supercharging stations and 1,540 supercharging piles in Shanghai, ranking first among domestic cities.

Tesla Shanghai Super Factory is also an important global export center for Tesla, and its products are exported to Europe, Asia-Pacific and other markets. At the end of September this year, the 1 millionth Model 3 exported overseas rolled off the assembly line of Tesla Shanghai Super Factory and was shipped to the UK.