In a statement made by the company, it was announced that an agreement was signed with the local government for the allocation of land for the factory to be established in Shanghai.

The factory will produce Tesla's lithium-ion battery units called "Megapack", which can store 4 megawatt-hours of electricity.

The factory, which is planned to start construction in the first quarter of 2024, is planned to be operational in the third quarter.

The factory aims to produce a total of 40 gigawatt-hours of energy storage capacity with 10 thousand units per year.

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Tesla currently has a "mega factory" in Lathrop, California, USA, which has the capacity to produce 10 thousand Megapacks per year.

The company plans to expand its "giga factory" in Shanghai, which can produce 1 million electric cars a year, with an additional capacity of 450 thousand.