<p>Tesla Inc will build a gigafactory in Shanghai to make the Megapack energy storage product, Chinese state media outlet Xinhua reported on Sunday.</p>.<p>Elon Musk's automaker will break ground on the plant in the third quarter and start production in the second quarter of 2024, Xinhua reported from a signing ceremony in Shanghai.</p>.<p><strong>Also read | <a href="https://www.deccanherald.com/business/business-news/jury-orders-tesla-to-pay-former-worker-in-racism-case-1206488.html" target="_blank">Jury orders Tesla to pay former worker in racism case</a></strong></p>.<p>The factory will initially produce 10,000 Megapack units a year, equal to around 40 gigawatt hours of energy storage, to be sold globally, Xinhua said</p>
<p>Tesla Inc will build a gigafactory in Shanghai to make the Megapack energy storage product, Chinese state media outlet Xinhua reported on Sunday.</p>.<p>Elon Musk's automaker will break ground on the plant in the third quarter and start production in the second quarter of 2024, Xinhua reported from a signing ceremony in Shanghai.</p>.<p><strong>Also read | <a href="https://www.deccanherald.com/business/business-news/jury-orders-tesla-to-pay-former-worker-in-racism-case-1206488.html" target="_blank">Jury orders Tesla to pay former worker in racism case</a></strong></p>.<p>The factory will initially produce 10,000 Megapack units a year, equal to around 40 gigawatt hours of energy storage, to be sold globally, Xinhua said</p>