tesla inc tsla will reportedly have a second plant in china what happened tesla will build a new mega factory in shanghai that will manufacture megapack teslas energy storage product the us electric vehicle maker announced at the signing ceremony of the project in chinas largest city chinese state media outlet xinhua reported construction of the new plant is expected to start in the third quarter with production set to begin in the second half of 2024 according to xinhua the annual capacity of the proposed plant will be 10000 megapack units or equivalent to about 40 gigawatthour of energy storage tesla expects to sell these megapacks worldwide the publication further noted see also everything you need to know about tesla stock why it’s important tesla’s current giga shanghai plant manufactures both model y and 3 vehicles and accounts for a little over half of the company’s global output rumors of a new plant adjacent to the existing one floated around in early 2022 with reuters reporting that the plan had been confirmed by tesla ceo elon musk in a letter to local officials at the time the company purportedly had plans to use the new plant to boost its vehicle production capacity in china according to tesla the companys megapack is a powerful battery that provides energy storage and support to help stabilize the grid and prevent outages each unit can store 3 megawatthours of energy enough to power an average of 3600 homes for an hour the ev manufacturer noted the report of the megapack plant comes close on the heels of the news that musk is set to visit china saturday alongside tom zhu the tesla china executive who was recently named senior vice president of automotive operations musk will reportedly stop by the giga shanghai plant and meet with local shanghai authorities tesla closed thursdays session down 025 at 18506 according to benzinga pro data check out more of benzingas future of mobility coverage by following this link read next elon musk says demand for tesla vehicles remains robust but flags one critical thing that could stop it