The Victorian Big Battery, a 300/450MWh grid-scale battery storage facility in Geelong, Australia, consists of 210 Tesla Megapacks. [Photo/eastday.com]

Tesla's Shanghai megafactory, dedicated to producing the company's energy storage product Megapack, is scheduled to begin construction in May, with mass production expected by the first quarter of 2025.

Situated in Shanghai's Lin-gang Special Area, the plant marks Tesla's inaugural venture into an energy storage super factory project outside the United States, showcasing the company's rapid advancements in the energy storage sector.

The Megapack, a large-scale commercial energy storage battery, is designed to enhance renewable energy storage and distribution for grid operators and utility companies and currently stands as the world's largest electrochemical energy storage device.

Each Megapack unit can store over 3.9 megawatt-hours of energy, meeting the one-hour power needs of 3,600 households. Moreover, a cluster of 200 Megapack units can store 1 million kilowatt-hours, enough to power San Francisco for six hours.

Since 2015, Tesla has strategically positioned itself in the energy storage industry, witnessing rapid growth and rivaling its electric vehicle sector. Its energy storage products are operating in over 65 countries and regions globally, with total deployment exceeding 10 gigawatt-hours. In 2023, Tesla's total energy storage capacity reached 14.7 GWh, with profits nearly quadrupling.

The versatility of the Megapack has been demonstrated in various locations, such as the United States, the United Kingdom, and Australia, where it is used to provide supplementary and backup power using renewable energy sources.

Bloomberg predicts that by 2030, the global market demand for energy storage batteries will reach 1,000 GWh, with a market size of $1.2 trillion, highlighting the enormous potential of the battery storage market.

Source: eastday.com