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Axios
Axios
Environment

Tesla to build "Megafactory" in Shanghai for "Megapack" batteries

Tesla Inc. Shanghai Axios

Tesla will open a "Megafactory" in the Chinese city of Shanghai, the electric vehicle maker announced Sunday.

The big picture: The factory "will initially produce 10,000 Megapack" battery units per year, equal to about 40 gigawatt hours of energy storage, to be sold globally, the Chinese state news agency Xinhua first reported on Sunday.

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