© Reuters. A Tesla brand is seen outdoors a showroom of the carmaker in Beijing, China May 31, 2023. REUTERS/Thomas Peter/File Photo
BEIJING/SHANGHAI (Reuters) -Tesla has acquired land in Shanghai for a megapack battery manufacturing plant with manufacturing anticipated to start out within the fourth quarter of 2024, Chinese state media reported on Friday.
Tesla (NASDAQ:) paid 222.42 million yuan ($31.13 million) to be used rights to a 19.7-hectare (48.7 acres) plot, a separate authorities assertion mentioned on Thursday. The web site is close to an present Tesla plant producing Model 3 and Model Y automobiles.
Tesla didn’t instantly reply to a request for remark.
Construction of the mission, which will probably be able to producing 10,000 megapacks per 12 months, is scheduled to start within the first quarter of 2024 with manufacturing beginning within the fourth quarter, the official Xinhua News Agency reported.
Tesla mentioned in April that it might begin development within the third quarter of this 12 months with manufacturing anticipated to start within the second quarter of subsequent 12 months.
The U.S. electrical car producer’s gigafactory in Shanghai is producing with annual capability of 1.1 million models. Tesla has indicated it needs to increase its EV capability in Shanghai, which might require regulatory approval.
($1 = 7.1460 renminbi)
