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

Philips shares pop 9% amid ‘clear step up in sales’; European stocks mixed
World

Philips shares pop 9% amid ‘clear step up in sales’; European stocks mixed

City of London skyline with 20 Fenchurch Street, affectionately nicknamed the Walkie Talkie as light fades at dusk on 27th November 2025 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images European stocks opened in mixed territory on Tuesday amid a flurry of corporate earnings releases. By 8:30 a.m. in London (3:30 […]

Read More
Treasury yields lower as markets brace for retail sales data
World

Treasury yields lower as markets brace for retail sales data

Traders work on the floor of the New York Stock Exchange (NYSE) on February 09, 2026 in New York City. Spencer Platt | Getty Images The 10-year Treasury yield inched lower on Tuesday as investors awaited retail sales data for December amid a flurry of economic data this week. The benchmark yield was over 1 basis point […]

Read More
Gucci-owner Kering jumps 13% as new CEO maps revival, sales beats estimates
World

Gucci-owner Kering jumps 13% as new CEO maps revival, sales beats estimates

Customers shop at a GUCCI luxury store in Shanghai, China. Cfoto | Future Publishing | Getty Images Kering said it expects a return to growth this year even as it posted another quarter of sales declines on Tuesday, with its biggest sales driver, Gucci, continuing to lag in new CEO Luca de Meo’s first quarter […]

Read More