Tesla is building a Megapack factory in Shanghai
Sunday’s announcement sees Tesla increasing its reliance on China at a time when the US is using economic policy to push automakers and other manufacturers to produce more of their products domestically.
At the end of last month, the Treasury Departmentdetailing what electric vehicles qualify for the Inflation Reduction Act’s $7,500 EV tax credit. Under the updated rules, the department states companies must source the minerals in their car batteries from the US and other approved trading partners for the vehicles to qualify for the incentive.
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Reports: Tesla plans Shanghai factory for power storageChinese state media say electric car maker Tesla Inc. plans to build a factory in Shanghai to produce power-storage devices for sale worldwide. The reports say Tesla made the announcement at a signing ceremony in Shanghai, where the company operates an auto factory. Plans call for annual production of 10,000 Megapack units. The factory is due to break ground in the third quarter of this year and start productions in the second quarter of 2024.
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Tesla to Build New China Plant for Energy Storage BatteryTesla is building a new factory in Shanghai to produce its Megapack battery, Chinese state media reported Sunday, further expanding into the country at a time of fraught U.S.-China ties
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