Tesla’s Shanghai energy storage factory has passed acceptance inspection and is expected to go into mass production early next year. It only took seven months from the start of construction to now.

Tesla’s Shanghai Energy Storage Gigafactory has quickly completed construction.It only took 7 months from the start of construction in May to completion, reflecting "Tesla speed."The factory is expected to be officially mass-produced early next year and is targeted to be put into production in the first quarter of 2025. It will produce 10,000 units of commercial energy storage battery Megapack annually with an energy storage scale of nearly 40GWh, guided by global market demand.

In the third quarter of 2024, Tesla's power generation and energy storage business revenue reached US$2.376 billion, a year-on-year increase of 52.4%, and the gross profit margin of the energy business reached a record high of 30.5%.

The Shanghai factory is another major investment by Tesla in China after the Shanghai Gigafactory, with a total investment of approximately 1.45 billion yuan.

The factory will mainly produce Megapack, a large-scale commercial energy storage battery, to help grid operators and utility companies efficiently store and distribute renewable energy.

Each Megapack battery has an energy storage capacity of over 3MWh, enough to power 3,600 households for one hour.

The factory with an annual production capacity of 40GWh is expected to produce about 10,000 Megapack batteries annually, which can support 8,000 households with electricity throughout the year.