BUSINESS

Tesla planning new Shanghai battery factory despite rising U.S.-China tensions

Visitors look at a Tesla Model 3 next to a Model Y in a showroom in Beijing in February. The EV-focused auto firm intends to build a new battery factory in Shanghai, increasing investment in China at a time of brewing tensions between Beijing and Washington. | REUTERS

By Chunying Zhang and Vlad Savov
Bloomberg

Apr 10, 2023

Tesla intends to build a new battery factory in Shanghai, further cementing China’s place at the top of the global energy storage supply chain.

Tesla will manufacture its Megapack large-scale energy-storage unit at the new facility, which adds to its factory for electric vehicles in Shanghai. The company — led by Elon Musk, who is said to be visiting China this weekend — made the announcement at a signing ceremony for the project in Shanghai.

Tom Zhu, Tesla’s senior vice president of automotive, and Shanghai government officials including Vice Mayor Wu Qing attended, with Tesla Vice President Tao Lin signing the contract.

Tesla planning new Shanghai battery factory despite rising U.S.-China tensions

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