BYD's battery making unit FinDreams will be Tesla's new supplier of energy storage cells outside of CATL, securing more than 20 percent of orders for the Megapack product line, according to local media.
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Tesla's Shanghai Megafactory is expected to go into production in the first quarter of 2025, with Megapack production of up to 10,000 units per year and nearly 40 GWh of energy storage, Tom Zhu said.
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The Megafactory will be Tesla's first energy storage system factory outside of its US domestic market, with an initial planned annual production capacity of up to 10,000 commercial energy storage batteries.
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A land acquisition and signing ceremony for Tesla's Megapack project was held in Shanghai on Friday morning, marking the official start of what the company called a "milestone project".
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Tesla's Shanghai Megafactory is scheduled to begin construction in the third quarter this year and start production in the second quarter of 2024, according to an April announcement.
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The company's business scope includes energy stOrage technology services and solar power technology services, and may be the operating entity for Tesla's energy storage business in China.
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Tesla has registered a new company in Shanghai that will perhaps be the operating entity for its energy storage business in China.
The company, called Tesla (Shanghai) New Energy Co Ltd, was established on April 13 with a registered capital of $2 million, according to data provider Tianyancha.
The company's registered address is at Lingang area in Shanghai's Pudong New Area, and its legal representative is Wang Hao, with Tom Zhu, who was named senior vice president of Tesla's automotive business earlier this month, as chairman.
Wang joined Tesla at the beginning of its entry into China in April 2014 as head of the destination charging program in China. He became vice president of Tesla China in January 2018 and began his role as general manager of Tesla China in August 2019.
Tesla's business scope for this new-energy company includes energy storage technology services, solar power technology services, automotive parts research and development, and import and export of goods.
The information hints that the company may be the operating entity for Tesla's energy storage business in China.
On April 9, Tesla signed a contract with Shanghai's Lingang authorities to build a new Megafactory in the area, which will be dedicated to the production of Tesla's energy storage product Megapack.
The Megafactory will be Tesla's first energy storage system factory outside of the US home market, with an initial planned annual production capacity of up to 10,000 commercial energy storage batteries and an energy storage scale of nearly 40 GWh, with products to be supplied to the global market.
The plant is scheduled to start construction in the third quarter of this year and go into operation in the second quarter of 2024.
Tesla's factory in China is located in Lingang area, which began operations at the end of 2019 and has now become Tesla's largest EV production base in the world.
Tesla to build new Megafactory in Shanghai to produce Megapack energy storage system
The post Tesla sets up new-energy firm in Shanghai with registered capital of $2 million appeared first on CnEVPost.
For more articles, please visit CnEVPost.
The company's business scope includes energy stOrage technology services and solar power technology services, and may be the operating entity for Tesla's energy storage business in China.
(Image credit: CnEVPost)
Tesla has registered a new company in Shanghai that will perhaps be the operating entity for its energy storage business in China.
The company, called Tesla (Shanghai) New Energy Co Ltd, was established on April 13 with a registered capital of $2 million, according to data provider Tianyancha.
The company's registered address is at Lingang area in Shanghai's Pudong New Area, and its legal representative is Wang Hao, with Tom Zhu, who was named senior vice president of Tesla's automotive business earlier this month, as chairman.
Wang joined Tesla at the beginning of its entry into China in April 2014 as head of the destination charging program in China. He became vice president of Tesla China in January 2018 and began his role as general manager of Tesla China in August 2019.
Tesla's business scope for this new-energy company includes energy storage technology services, solar power technology services, automotive parts research and development, and import and export of goods.
The information hints that the company may be the operating entity for Tesla's energy storage business in China.
On April 9, Tesla signed a contract with Shanghai's Lingang authorities to build a new Megafactory in the area, which will be dedicated to the production of Tesla's energy storage product Megapack.
The Megafactory will be Tesla's first energy storage system factory outside of the US home market, with an initial planned annual production capacity of up to 10,000 commercial energy storage batteries and an energy storage scale of nearly 40 GWh, with products to be supplied to the global market.
The plant is scheduled to start construction in the third quarter of this year and go into operation in the second quarter of 2024.
Tesla's factory in China is located in Lingang area, which began operations at the end of 2019 and has now become Tesla's largest EV production base in the world.
Tesla to build new Megafactory in Shanghai to produce Megapack energy storage system
The post Tesla sets up new-energy firm in Shanghai with registered capital of $2 million appeared first on CnEVPost.
For more articles, please visit CnEVPost.