Asia Tech Wire (June 5) -- A battery subsidiary of Chinese electric car maker BYD has received an order for the Tesla Megapack, according to the latest market news.

The sources said that FinDreams Battery has reached a supply agreement with Tesla for its Shanghai Megapack battery plant in March this year, and will supply energy storage cells to Tesla in the first quarter of next year.

Tesla's Megapack battery plant in Shanghai, which officially broke ground last month, is currently planning only the Megapack product line, which is due to go into production in the first quarter of 2025.

Tesla has identified CATL as the primary supplier of the factory's cells, with FinDreams as a secondary supplier, the sources said. And a person familiar with the matter added that FinDreams accounts for more than 20% of the supply.

The U.S. automaker plans an annual capacity of 40GWh for its energy storage plant, so FinDreams' order corresponds to a supply of more than 8GWh at full production. Projecting on the basis of industry prices, this annual order is worth about 3.5 billion yuan.