<ul data-eligibleForWebStory="true"><li>Tesla signed a $556 million deal in China to build a large-scale battery storage plant for energy storage, not for electric vehicles.</li><li>The plant in Shanghai will produce Tesla Megapacks, which store electricity for neighborhoods, factories, and utility grids.</li><li>Each Megapack can hold over 3 megawatt-hours of energy, enough to power about 3,600 homes for an hour.</li><li>China's focus on renewable energy and grid stabilization makes it an ideal location for Tesla's energy storage plant.</li><li>Tesla's energy division is growing rapidly, with plans to deploy 40 gigawatt-hours of energy storage per year in Shanghai.</li><li>This shift shows Tesla evolving into a major energy company, not just a car manufacturer.</li><li>Increasing energy storage capacity can lead to fewer blackouts, better EV charging, and stronger support for renewables like solar and wind power.</li><li>The investment in energy infrastructure demonstrates Tesla's commitment to sustainable energy solutions.</li><li>The $556 million battery project signifies an important step in Tesla's future development and growth in the energy sector.</li></ul>

Tesla’s Next Big Move Has Nothing to Do With Cars

Discover more