Tesla to open battery factory in Shanghai as China seeks foreign investment

  • 📰 washingtonpost
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

Business News News

Tesla will open a factory in Shanghai to produce its Megapack large-scale batteries, cementing another foothold for the U.S. company in China. Elon Musk, Tesla's CEO, said the factory will supplement another in California.

Having energy stored in such a manner could help “stabilize the grid and prevent outages,” Tesla says on its. Coal and natural gas are more commonly used for energy production in a pinch — like when warm temperatures cause more demand for electricity to power air conditioning units or when extreme weather hampers part of a power grid.

A Megapack, Tesla says, “stores energy for the grid reliably and safely, eliminating the need for gas peaker plants and helping to avoid outages.” Each pack can store enough energy to power 3,600 homes for an hour, Tesla says.that left millions without electricity after the state was hit by a winter storm.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

So, why isn’t HouseGOP after Elon Musk for his financial ties to the CCP?

Is this guy American

Wait, are the snowflake Rs going to shoot up their tesla's now?

sanctionMusk

Texas, China what’s the difference?

After what seems like 20 years of companies opening factories in China just to see other Chinese companies spring up that basically pirate their tech… it seems like a foolish move for a tech company?

America cannot control the world; cause hardship on other countries|Trump, the government & Ivanka did business w/ China for decades. Almost everything one in N. America, or the world buys is made in China as you opted for greed/cheap labour decades ago. Stop the lazy pretence.

balas

Testament that liberal policies are bad for business.

Merca!!!!

Plus, child labor is cheaper.

Please help me! My name is Lin donglong, an employee of China telecom fuzhou branch. Company manager huang fei (communist party of China) organized the leadership of the gang of evil forces brutal persecution: surveillance location, insult,abuse, framed to take nude photos of me

More power captain!

Genius in one direction, utter fool in another, this kind of investment in hubristic China right now is Musk's folly!

Nothing sold here should be made in China

He should know better

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 95. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla to open a new Megafactory in Shanghai, China, company saysTesla will open a new Megafactory in Shanghai, China, that is capable of producing 10,000 Megapacks a year. elonmusk You not watching the news? 🤣🤣🤣🤣🤡🤡🤡🤡 Tesla and Apple need to get manufacturing out of China. Something happens with Taiwan then the embargo begins. Those with manufacturing in China are screwed.
Source: CNBC - 🏆 12. / 72 Read more »