China Securities News, China Securities Taurus reporter learned that on May 23rd, the opening ceremony of Tesla's Shanghai Energy Storage Super Factory was held in Lingang, Shanghai.
After the groundbreaking ceremony, Lingang Group also signed the contract with Tesla for the first batch of ultra large electrochemical commercial energy storage system Megapack in China, marking a new journey for Tesla's business in China. As Tesla's second factory in China, the Tesla Shanghai Energy Storage Super Factory is Tesla's first energy storage super factory outside of the United States.
At the groundbreaking ceremony, Tesla Senior Vice President Zhu Xiaotong stated that Tesla is committed to using disruptive technologies to solve fundamental problems in the transportation and energy sectors, forming an innovative technology complex that vertically integrates the entire industry chain of electric vehicles, energy storage products, artificial intelligence, and robotics. Tesla's energy storage business, as an important component of its diversification strategy, is leading the development of the global energy storage market with its leading technology and innovative products. The commencement of the Shanghai Energy Storage Super Factory will undoubtedly further consolidate Tesla's leading position in the energy storage field and promote the progress and development of the global green energy industry.
Mike Snyder, Senior Director of Energy and Charging Business at Tesla, said, "I am very grateful for the continued strong support from the Shanghai and Lingang governments, which enabled Tesla's energy storage super factory to officially start construction in such a short period of time."
It is understood that Tesla's Shanghai Energy Storage Super Factory will produce Tesla's ultra large electrochemical commercial energy storage system Megapack. The factory is expected to start production in the first quarter of 2025, with an annual production capacity of 10000 units and an energy storage capacity of nearly 40 gigawatt hours (1 gigawatt hour=1000 megawatt hours). According to third-party organizations, the global market demand for energy storage batteries is expected to reach 1000 gigawatt hours by 2030, with a market size expected to reach 1.2 trillion US dollars.
Tesla stated that the factory is another major investment project for Tesla in China, following Tesla's Shanghai super factory in the past decade. This factory not only represents another important position of Tesla in the global energy storage layout, but also serves as a strong proof of its key role in the global energy transformation trend. At present, Tesla's Shanghai super factory produces over 950000 cars annually, and Tesla has over 1.7 million car owners in China.