Tesla China announced on Tuesday that the Tesla Shanghai Energy Storage Super Factory project successfully passed completion inspection on Dec. 27, taking only seven months from the start of construction in May to completion.

The company said the factory has begun trial production and is expected to formally start mass production early next year.

The new factory plans to produce 10,000 commercial energy storage batteries Megapack annually, with an energy storage scale of nearly 40GWh, supplying the global market.

This is another large-scale investment project of Tesla in China in the past ten years since its entry into China, following the Shanghai Gigafactory.

This factory not only represents another important step in Tesla's global energy storage layout, but also is a strong proof of its key role in the tide of global energy transformation.

Earnings data show that Tesla's revenue from its energy generation and storage business in the third quarter of 2024 amounted to $2.376 billion, a year-on-year increase of 52.4%.

In particular, its energy business achieved a record gross margin of 30.5% in the quarter, indicating that energy storage has become an important growth point for Tesla.