Tesla is continuing to diversify its business, showing again that it's much more than an electric vehicle brand churning out Cybertrucks and Model Ys.
As Electrek reports, a new Megafactory devoted to creating Megapacks is rapidly taking shape in Shanghai. The company shared a render of the planned completed plant alongside an image of the current progress, which was estimated at 45%.
Grace Tao-Lin, Tesla VP of China, provided the update on Weibo, a Chinese social media platform. In comments translated by Electrek, the exec wrote: "Tesla's first energy storage Gigafactory outside the United States is also speeding up construction, with a progress of about 45%, striving to run at the 'Tesla speed' and 'Lingang speed' again."
The planned final render featured solar panel roofs, which aligns with the sort of clean energy the Megapacks will be expected to house.
Megapacks are large-scale, rechargeable lithium-ion batteries that utilities and other companies can use to increase their clean energy storage and scale up their infrastructure projects. According to Tesla, each unit can store "enough energy to power an average of 3,600 homes for one hour."
Megapacks are starting to power projects from California to Australia, which can take pressure off the energy grid and ease the transition to clean power. Consumers can get involved as well by modernizing their homes and becoming less reliant on fossil fuels and the grid.
The Shanghai Megafactory is set to become Tesla's second plant dedicated solely to producing Megapacks, as opposed to EVs. When completed, the plant will nearly double Tesla's total energy storage production capacity, according to Electrek.
Similar to Tesla's growing dominance in EV charging with its Supercharger network, Megapacks provide an opportunity for the company to thrive outside of its vehicles.
Earlier this year, Tesla CEO Elon Musk revealed in an earnings call that Megapack sales are growing significantly faster than EVs. That growth led to record profitability for Tesla's energy business.
Commenters on Electrek were enthusiastic about the Shanghai Megafactory's progress.
One wrote: "The high growth rate in energy storage is really the only thing that interests me about Tesla anymore."
Another put it simply, asking for "MORE MORE MORE Megapacks."
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