Tesla Shanghai Factory Rolls Out 1,000th Energy Storage System

On July 29th, the 1,000th Megapack energy storage system produced by Tesla’s Shanghai Energy Storage Gigafactory officially rolled off the production line and will be shipped to Europe. It took the factory less than half a year to go from the first unit to the 1,000th.

Tesla's Shanghai Energy Storage Gigafactory is the company's second energy storage gigafactory globally and its first energy storage production base outside the United States. On February 11 of this year, the Tesla Shanghai Energy Storage Gigafactory held its commissioning ceremony, with a planned capacity of 40 GWh.

Megapack is Tesla's ultra-large commercial electrochemical energy storage system designed specifically for utility-scale storage. Each Megapack unit can store more than 3.9 megawatt-hours of energy, enough to meet the one-hour electricity demand of 3,600 households. Its battery capacity is also equivalent to that of 62 Tesla Model 3 vehicles. The energy conversion efficiency of the Megapack is over 92%, about 5% higher than similar products. Currently, Tesla has established energy storage giga factories in Las Lathrop, USA, and Shanghai, China, with a planned total annual production capacity of 80 gigawatt-hours, capable of meeting the annual electricity needs of 10 million households.

Tesla's 2024 financial report shows that its energy storage business achieved an annual installed capacity of 31.353 GWh, representing a year-on-year growth of 114% from the previous year, and a gross margin of 26.17%, which is higher than that of electric vehicles.