Tesla will build a new factory for its large-scale energy storage Megapack units in Shanghai, the company said in a tweet. The Shanghai factory will have the capacity to produce 10k Megapack units annually, which is equal to 40 GWh of energy storage, Xinhua reports. The Megapack is “a powerful battery that provides energy storage and support, helping to stabilize the grid and prevent outages,” according to Tesla’s website. Construction at the plant will begin in 3Q 2023, with production beginning in the 2Q 2024, Xinhua reports, citing statements made by Tesla during the project’s signing ceremony.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Chinese oil and gas giant Sinopec is building a 400 km pipeline extending from the west to the east of China, to transfer green hydrogen produced from its 30k ton plant which is under construction in Ordos, Inner Mongolia. The pipeline will have the capacity to transfer up to 100k tons of green hydrogen annually. (Reuters)
  • Indonesia will soon submit a proposal for a freetrade agreement with the US, applicable to key minerals used in EV manufacturing. The agreement would allow Indonesian EV battery supply chain companies to benefit from US tax credits under the Inflation Reduction Act. (Reuters)
  • India’s green hydrogen push hinges on accelerating renewable energy generation, rolling out regulation, and reducing the costs of production, transportation, and storage of the green fuel. The country’s green hydrogen strategy aims to have the country produce 5 mn tons of green hydrogen annually by 2030 to establish itself as a global hub for the clean fuel. (The National)
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