Tesla signs its first grid-side energy storage project in mainland China, valued at 4 billion

Zhitong
2025.06.20 11:33
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Tesla's first grid-scale battery storage project in China will be located in Shanghai, utilizing its Megapack batteries. Tesla, China Kangfu International Leasing Co., Ltd., and the Shanghai municipal government signed an agreement worth $556.8 million (4 billion RMB) on Friday. In 2024, Tesla's global energy business is expected to grow rapidly, with global energy storage product installations reaching 31.4 GWh. In the first quarter of 2025, Tesla's energy storage business will become the biggest highlight with breakthrough performance. Data shows that in the first quarter, Tesla's global energy storage systems added an installed capacity of 10.4 GWh, a year-on-year increase of 156.6%, setting a new historical record. In February 2025, Tesla's first energy storage factory outside the United States—the Shanghai Energy Storage Gigafactory—officially commenced production. On March 21, the first energy storage system Megapack from Tesla's Shanghai Energy Storage Gigafactory was officially exported, departing from the Waigaoqiao Port in Shanghai to Australia. Currently, the Megapack energy storage systems produced by Tesla's Shanghai Energy Storage Gigafactory have been exported in hundreds to multiple countries and regions in Europe and Oceania

According to Zhitong Finance APP, Tesla (TSLA.US) will establish its first grid-scale battery storage project in China in Shanghai, using its Megapack batteries.

Tesla, China Kangfu International Leasing Co., Ltd., and the Shanghai municipal government signed an agreement worth $556.8 million (4 billion RMB) on Friday.

In 2024, Tesla's global energy business is expected to grow rapidly, with global energy storage product installations reaching 31.4 GWh. In the first quarter of 2025, Tesla's energy storage business will become the biggest highlight with breakthrough performance.

Data shows that in the first quarter, Tesla's global energy storage system added an installed capacity of 10.4 GWh, a year-on-year increase of 156.6%, setting a historical record.

In February 2025, Tesla's first energy storage factory outside the United States—the Shanghai Energy Storage Gigafactory—officially commenced production. On March 21, the first energy storage system Megapack from Tesla's Shanghai Energy Storage Gigafactory was officially exported, departing from the Shanghai Waigaoqiao Port to Australia. Currently, the Megapack energy storage systems produced by Tesla's Shanghai Energy Storage Gigafactory have been exported to hundreds of units in multiple countries and regions in Europe and Oceania