According to Chinese state media outlet, a major automaker will open a facility in Shanghai to manufacture the Megapack energy storage product.
The automaker will break ground on the factory in the third quarter and begin production in the second quarter of 2024, the Chinese state media outlet reported from a signing ceremony in Shanghai.
The new facility will initially produce 10,000 Megapack units annually, equivalent to about 40 gigawatt hours of energy storage, and will be sold internationally; this will be in addition to a large existing Shanghai facility producing electric automobiles, the Chinese state media outlet added.
Megapacks are lithium-ion batteries manufactured by the automaker and used in battery-storage power stations.
Most of the automaker’s revenue comes from its electric vehicle company, but it has pledged to grow its solar energy and battery businesses to nearly the same size.
In 2019, the company began building automobiles in Shanghai and can currently produce 22,000 units per week.
