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SHANGHAI, May 23 -- U.S. carmaker Tesla broke ground on a mega factory in Shanghai on Thursday to manufacture its energy-storage batteries, Megapacks, a project hailed by the company as a "milestone." The latest move underscores Tesla''s commitment to investing in the world''s second-largest economy, defying the rhetoric of

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US automaker Tesla has started building a battery production facility in Shanghai which will manufacture energy storage units, so-called megapacks. The plant

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The annual production capacity of this Shanghai Energy Storage Super Factory is expected to be 40GWh, equivalent to 10,000 Megapack batteries, with its products covering the global market. SEE ALSO: Former TuSimple CTO, Wang Naiyan, to Join Xiaomi''s Autonomous Driving Division

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The upcoming Shanghai 40 GWh energy storage factory, which will start production next year, represents a significant expansion in Tesla''s energy storage business capacity.

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Elon Musk ''s Tesla will open a new factory in China to produce energy-storing batteries. However, it''s not for Tesla vehicles but for other electric utilities and

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