A Tesla logo is seen outside a showroom of the carmaker in Beijing, China May 31, 2023. REUTERS/Thomas Peter/File Photo
BEIJING/SHANGHAI (Reuters) -Tesla has acquired land in Shanghai for a megapack battery manufacturing plant with production expected to start in the fourth quarter of 2024, Chinese state media reported on Friday.
Tesla paid 222.42 million yuan ($31.13 million) for use rights to a 19.7-hectare (48.7 acres) plot, a separate government statement said on Thursday. The site is near an existing Tesla plant producing Model 3 and Model Y cars.
