According to Tesla, a new Megafactory will be developed in Shanghai, China

In a tweet on Sunday, Tesla said that it would open a new Megafactory in Shanghai, China, that can produce 10,000 Megapacks annually.

A Megapack is an extremely huge battery that stores energy, settles the power network and forestalls blackouts. These batteries empower framework administrators to move additional limit between provinces or states and guarantee that power from irregular sources can be put away and utilized when request is higher, or when there are spontaneous blackouts in a transmission organization.

According to the website of the company, Tesla currently operates a Megafactory in Lathrop, California, which is capable of producing 10,000 Megapack units annually. Elon Musk, CEO of Tesla, stated in a tweet on Sunday that the factory in China will complement the California factory’s output.

The Chinese state media outlet Xinhua reported from a signing ceremony in Shanghai on Sunday that the company intends to begin building the factory in the third quarter of this year and will aim to begin production around the halfway point of 2024.