TapTechNews learned from the WeChat public account 'Shanghai Lingang' that the construction permit for Tesla's Shanghai energy storage super factory project has been issued. This is Tesla's first energy storage super factory project outside the United States. The factory is scheduled to start construction in May this year and achieve mass production in the first quarter of next year. The project covers a total area of approximately 200,000 square meters, with a total investment of about 2.15 billion yuan (approximately 335 million US dollars). The project plans to initially produce 10,000 units of commercial energy storage battery Megapack, with an energy storage capacity of nearly 40GWh. It is reported that more than 200 Megapacks can form an energy storage power plant to store 1 million kilowatt-hours of electricity. Megapack, as Tesla's star energy storage product, is based on integrated system integration and modular design, with outstanding energy storage and distribution capabilities. According to TapTechNews, it can help grid operators and utilities to more efficiently utilize renewable energy, which is of great significance for promoting the development of green energy. Data from the National Energy Administration shows that by the end of 2023, the cumulative installed capacity of new energy storage projects has reached 31.39 GW/66.87 GWh, with an average storage duration of 2.1 hours. The newly added installed capacity in 2023 is approximately 22.6 GW/48.7 GWh, nearly three times the level at the end of 2022.