Tesla will build China''s largest grid-side battery storage plant in Shanghai. The $556 million project, involving over 100 Megapacks, aims to stabilize China''s urban power grid. Tesla’s energy expansion in China comes as demand for large-scale battery systems grows.
Tesla’s energy expansion in China comes as demand for large-scale battery systems grows. Tesla has signed its first agreement to build a utility-scale battery storage facility in China, marking a major step in the company’s global energy ambitions despite ongoing trade tensions between Washington and Beijing.
"The grid-side energy storage power station is a ''smart regulator'' for urban electricity, which can flexibly adjust grid resources," Tesla said on Weibo, according to a Google translation. This would "effectively solve the pressure of urban power supply and ensure the safe, stable and efficient electricity demand of the city," it added.
Capacity for global battery energy storage systems rose 42 gigawatts in 2023, nearly doubling the total increase in capacity observed in the previous year, according to the International Energy Agency. — CNBC''s Arjun Kharpal contributed reporting.
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