Tesla's 'milestone' Shanghai battery factory breaks ground
US 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 "decoupling" and "de-risking" from China ratcheted up by some US politicians.
The new plant spans an area of approximately 200,000 square meters, with a total investment of around 1.45 billion yuan (US$203.94 million), according to the administration of Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone.
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