Lingang energy storage development prospects

How will Shanghai's energy-storage project impact the energy industry?

Zhuang Mudi, deputy secretary-general of the Shanghai municipal government, said the project would help drive the development of the new energy-storage industry and the green and low-carbon transformation of Shanghai.

What is Tesla's new energy storage megafactory?

The energy storage Megafactory is the first of its kind built by Tesla outside the US and the company's second plant in Shanghai. Mass production at the factory commenced just eight months after construction began, serving as a new example of "Tesla speed" in China, Tesla said in a press release sent to the Global Times on Tuesday.

How many Megapack energy storage units will be produced in 2025?

Breaking ground in the Lin-gang Special Area of Shanghai on May 23 this year, the factory will go into production in the first quarter of 2025, with an annual capacity of 10,000 Megapack commercial energy storage units. The products from this factory will be supplied to the global market.

How big is China's energy storage capacity?

According to data from the National Energy Administration of China, as of the end of September 2024, the country has successfully built and put into operation new energy storage capacity of 58.52 million kilowatts or 128 million kilowatt-hours, representing an approximate growth of 86 percent compared to the end of 2023, according to Xinhua.