Musk Expands Telsa China Op With Shanghai Battery Storage Plant

  • Tesla Inc. will build a factory in the China city of Shanghai to make Megapacks, an onboard device that stores power for  electric vehicles.
  • Company owner and CEO Elon Musk will break ground as early as this summer, with operations starting as early as April 2024, Chinese state media outlet Xinhua reported on Sunday.
  • The plant will add to the an existing Shanghai plant making electric vehicles.
  • Tesla in opening the plant will take advantage of China’s world-leading battery supply chain.