Tesla Inc. will build a factory in the China city of Shanghai to make Megapacks, an onboard device that stores power for electric vehicles.
Company owner and CEO Elon Musk will break ground as early as this summer, with operations starting as early as April 2024, Chinese state media outlet Xinhua reported on Sunday.
The plant will add to the an existing Shanghai plant making electric vehicles.
Tesla in opening the plant will take advantage of China’s world-leading battery supply chain.