On the afternoon of May 23rd, Tesla's Shanghai Energy Storage Super Factory officially started construction in the Lingang New Area of Shanghai.
It is reported that the total area of the energy storage factory is about 200000 square meters, and the location of the factory is close to Tesla's Shanghai Super Factory. It is expected to be put into operation in the first quarter of 2025. After operation, the production of the ultra large electrochemical commercial energy storage system Megapack will reach 10000 units, with a storage capacity of nearly 40 gigawatt hours, which means the power generation per hour will reach 40 million kilowatt hours. Analysts say that this is equivalent to the annual electricity consumption of 50000 households in Shanghai.
It is worth noting that Tesla's Shanghai Energy Storage Super Factory is the first energy storage super factory project built by Tesla outside the United States, and it is also another major project invested by Tesla in China in the past decade, following the Shanghai Super Factory.
Looking back to 2019, Tesla's Shanghai super factory achieved efficient production with "starting construction, production, and delivery in the same year".
At present, Tesla's Shanghai Superfactory has the ability to produce over 950000 pure electric vehicles annually, making it an important production base and export center for Tesla worldwide. The efficiency of energy storage factories is also astonishing, taking only one month from negotiation to signing. It is reported that Tesla's energy storage super factory will also strive to start construction, start production, and deliver this year.
At the construction site of the Shanghai Energy Storage Super Factory, Tesla also signed the contract with Lingang Group for the first batch of Megapack ultra large commercial energy storage batteries in China. It is reported that the 8 Megapacks purchased by Lingang Group will be used in the energy storage scenario of the Youfu Intelligent Computing Center in the new Lingang area to provide safer electricity protection.
Tesla Senior Vice President Zhu Xiaotong stated that this factory not only represents another important position for Tesla in the global energy storage layout, but also proves its crucial role in the global energy transformation trend.
In fact, since 2015, Tesla has been launching home energy storage battery Powerwall and ultra large commercial energy storage battery Megapack in the United States, targeting the home energy storage market and commercial and industrial energy storage markets respectively.
It is understood that, The Megapack energy storage system can store over 3.9 megawatt hours of energy per unit, which is sufficient to meet the 1-hour electricity demand of 3600 households, or to drive 65 Model 3 rear wheel drive versions at full power.
Public data shows that Tesla's energy storage products are currently sold in over 65 countries and regions worldwide, with an installed capacity of 14.7 gigawatt hours for the entire year of 2023. In the first quarter of 2024, Tesla's installed capacity of energy storage products reached a record high of 4.1 gigawatt hours, making it one of Tesla's fastest-growing businesses. In the first quarter, Tesla's energy storage business gross profit increased by 140% year-on-year.
Tesla CEO Musk said that the future of renewable energy depends on large-scale energy storage. The Tesla Megapack energy storage system can support low-cost, high-density utility and commercial projects on a scale of up to gigabwatt hours. Flexibility is also a major feature of Megapack energy storage systems, as it can be integrated and installed with battery modules, inverters, and temperature systems at any time, helping the power grid operate more stably and sustainably.
During Tesla's Q4 2023 earnings conference call, Musk made it clear: "For many years, I have predicted that the growth rate of the energy storage business will be much faster than that of the electric vehicle business. It is being realized."
Now, the construction of Tesla's Shanghai Energy Storage Super Factory will further accelerate the business growth of Tesla's energy storage sector. Tesla Vice President Tao Lin revealed that the production capacity of Tesla's Shanghai Energy Storage Super Factory will be partially supplied to the Chinese market and partially supplied to the global market.
"The Shanghai Energy Storage Super Factory will be a very important production and export base, just like Tesla's Shanghai Super Vehicle Factory," said Tao Lin.
In addition to laying out the electric vehicle and energy storage sectors, Tesla has also been accelerating its layout in the AI and robotics fields recently.
Tesla Senior Vice President Zhu Xiaotong stated that Tesla is committed to using disruptive technologies to solve fundamental problems in the transportation and energy sectors, forming an innovative technology complex that vertically integrates the entire industry chain of electric vehicles, energy storage products, artificial intelligence (AI), and robotics.
Tesla's energy storage business, as an important component of its diversification strategy, is leading the development of the global energy storage market with its leading technology and innovative products. The commencement of the Shanghai Energy Storage Super Factory will undoubtedly further consolidate Tesla's leading position in the energy storage field and promote the progress and development of the global green energy industry.