On the afternoon of April 9th, the signing ceremony of Tesla Energy Storage Gigafactory project was officially held in Shanghai. The Management Committee of Lingang New Zone of China (Shanghai) Pilot Free Trade Zone signed a contract with Tesla on site. Wu Qing, member of the Standing Committee of Shanghai Municipal Committee and Executive Vice Mayor of Shanghai, Zhu Xiaotong, senior Vice President of Tesla. Chen Jinshan, member of the Standing Committee of Shanghai Municipal Committee, Secretary of the Party Working Committee of Lingang New Area and Director of the Management Committee, and Li Zheng, Vice Mayor of Shanghai attended and witnessed the signing ceremony.

It is understood that Tesla Energy Storage Gigafactory will plan to produce Tesla super large commercial energy storage batteries (Megapack), the initial annual output of commercial energy storage batteries can reach 10,000 units, the energy storage scale is nearly 40 GWh, and the product range covers the global market. The Tesla Energy Storage Gigafactory project is scheduled to start construction in the third quarter of 2023 and start production in the second quarter of 2024. Zhuang Mudi, Deputy secretary general of Shanghai Municipal Government, said, ‘Five years ago, Tesla Shanghai Gigafactory project created the 'Shanghai service and Lingang speed', helping Shanghai become a new highland for the development of new energy vehicle industry. Today, we will witness the signing of Tesla Energy Storage Gigafactory project, which will become an important force to promote the development of Shanghai new energy storage industry and green and low-carbon transformation’.