Tesla is expanding its business in China with a new factory, planned for Shanghai, where the company will produce its Megapack battery. The construction of the facility is scheduled to start in the third quarter of this year and plans are to have it completed by the second quarter of 2024 when production is slated to begin, the Financial Times reported. Per plans, the new facility should produce some 10,000 Megapacks annually, with a total capacity equivalent to 40 GWh, per the FT. The batteries produced in Shanghai will be sold globally, Tesla…
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