- 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.
