Tesla to open up a new Megafactory in Shanghai, China, enterprise suggests

Tesla to open up a new Megafactory in Shanghai, China, enterprise suggests


A Tesla Megapack in Moss Landing, California

Andrew Evers | CNBC

Tesla will open a new Megafactory in Shanghai, China, that is able of developing 10,000 Megapacks a year, the firm declared in a tweet Sunday.

A Megapack is a quite big battery that retailers energy, aids stabilize the electricity grid and stops outages. These batteries empower grid operators to go more capacity between counties or states and ensure that energy from intermittent sources can be saved and made use of when need is larger, or when there are unplanned outages in a transmission community.

Tesla now has a Megafactory in Lathrop, California, that is capable of creating 10,000 Megapacks models each yr, according to the firm’s site. In a tweet Sunday, Tesla CEO Elon Musk mentioned the manufacturing facility in China will supplement output from the manufacturing unit in California.

The business is arranging to get started developing the factory for the duration of the 3rd quarter of this yr, and it will aim to start off production around midway as a result of 2024, the Chinese condition media outlet Xinhua described Sunday from a signing ceremony in Shanghai.

Tesla and Musk did not straight away react to requests for remark.





Source

SK Hynix to invest  billion in new plant amid memory chip shortage
World

SK Hynix to invest $13 billion in new plant amid memory chip shortage

A visitor takes a picture of a model of SK hynix’s high-bandwidth memory (HBM) technology during the 2025 World IT Show in Seoul on April 24, 2025. Jung Yeon-je | Afp | Getty Images South Korea-based memory maker SK Hynix announced Tuesday it will invest 19 trillion Korean won ($12.9 billion) to build a new […]

Read More
CNBC Daily Open: Powell probe rattles Washington, but Wall Street shrugs
World

CNBC Daily Open: Powell probe rattles Washington, but Wall Street shrugs

Screens broadcasts a press conference by U.S. Federal Reserve Chair Jerome Powell following the Fed rate cut announcement, on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., Oct. 29, 2025. Brendan McDermid | Reuters Opposition to the Trump administration’s criminal investigation of Federal Reserve Chair Jerome Powell is gaining […]

Read More
Japan’s Nikkei 225 jumps over 3% as expectations that ruling party will opt for a snap vote rise
World

Japan’s Nikkei 225 jumps over 3% as expectations that ruling party will opt for a snap vote rise

Pedestrians crossing street at night in Hong Kong, China Nathan Road Nikada | E+ | Getty Images Asia-Pacific markets opened higher on Tuesday as traders shrugged off geopolitical flashpoints in Iran and Venezuela, as well as a criminal investigation into the U.S. Federal Reserve Chair Jerome Powell. Japan’s benchmark Nikkei 225 jumped 3.4% to lead […]

Read More