It will be Tesla's first grid-side energy storage station to be built on the Chinese mainland. Dong Kun, general manager of Tesla China's energy business, said the station, once launched, will participate in electricity spot trading, helping balance peak and off-peak power demand in the local grids and enhance grid stability.
The gigawatt-hour-scale energy storage station is to be located in the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone, as per the deal signed by Tesla, the administrative committee of the Lin-gang Special Area, the people's government of Shanghai's Fengxian District, and China Kangfu International Leasing Co., Ltd.
Such capacity highlights Tesla's ambitious plans to bolster its presence in the global energy storage market. Covering an area of 200,000 square meters, the factory is a result of an investment totaling over US$201.76 million, underscoring Tesla's commitment to the energy storage sector.
It's a strategic move to harness China's infrastructure and skilled workforce while aiming for significant market influence in the global energy storage arena. Tesla's Shanghai Megafactory represents a significant advancement in the company's energy storage capabilities, with construction slated for completion by the end of 2024.
It will be Tesla''s first grid-side energy storage station to be built on the Chinese mainland. Dong Kun, general manager of Tesla China''s energy business, said the station, once launched, will
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