Tesla's Megafactory opening in Shanghai shows 'speed and efficiency': VP

Tesla's new Megafactory, which produces energy-storage batteries known as Megapacks, officially went into production on Tuesday in Shanghai, showcasing the company's deepening cooperation and investment in China.

The Megafactory is the first of its kind outside the United States and is expected to significantly speed up Tesla's efforts to bring its clean energy storage solutions to power grids around the world.

It marks another major investment by the U.S. company in Shanghai following its Gigafactory car manufacturing plant, the company's largest plant outside the United States, which began operation in 2019.

The new facility was completed in just seven months. Mike Snyder, Tesla's Vice President, expressed words of appreciation for the exceptional speed and efficiency of the construction process while speaking at the launch ceremony.

"In May 2024, we announced to set up a new Megafactory in Lingang, Shanghai. In just seven months, the Tesla team went from breaking ground to completing construction, a truly inspiring achievement where we've witnessed the incredible speed and efficiency of Tesla and Shanghai once again," said Snyder.

Covering an area of approximately 200,000 square meters, the new Shanghai plant represents a total investment of about 1.45 billion yuan (around 198.36 million U.S. dollars), according to the administrative body that oversees the Lingang Special Area of China (Shanghai) Pilot Free Trade Zone, where this Tesla facility is located.

With an expected annual capacity of 10,000 Megapack units, equivalent to an energy storage capacity of nearly 40 gigawatt hours, the facility is set to double the company's total production capacity for the stationary batteries when combined with the Megafactory in California.

The plant is set to begin mass production in the first quarter of 2025.

"2025 will be a historic year for Tesla's energy business. We have and will continue to make significant investments in manufacturing capacity, and we expect energy storage deployments to grow over 50 percent year-over-year in 2025," he said.

As Tesla continues to expand its footprint in China, the new Megafactory is a testament to the potential cooperation between the world's two largest economies in the quest for a sustainable future.

Global energy transition giants like Tesla are looking to explore market opportunities in China as the country has been accelerating the energy transition to meet the dual carbon goals of peaking carbon emissions by 2030 and attaining carbon neutrality by 2060.

Tesla's Megafactory opening in Shanghai shows 'speed and efficiency': VP

Tesla's Megafactory opening in Shanghai shows 'speed and efficiency': VP

Tesla's Megafactory opening in Shanghai shows 'speed and efficiency': VP

Tesla's Megafactory opening in Shanghai shows 'speed and efficiency': VP

The multilateral system is "under attack" amid global turmoil, President of the 80th UN General Assembly Annalena Baerbock warned in her remarks on Wednesday.

In her briefing on the priorities for the resumed 80th Session of the General Assembly, the UNGA president noted that the current multilateral system does not collapse all in a sudden, but "crumbles piece by piece" in divisions, compromises, and lack of political commitment.

The president called all the UN member states to defend the UN Charter and international law and promote cross-regional cooperation.

She also urged to push forward the work of the UNGA on certain critical issues with a strong majority, rather than an absolute consensus among all member states. Such act is not a failure of multilateralism, but "an affirmation of it," she said.

The foundational principles of the institution should not be eroded by appeasement, she said, calling the member states to show courage, leadership, and responsibility at the UN's "critical make-or-break moment."

"The UN needs you. Your support, your leadership, your principle, stand, your cross-regional cooperation, if we are to preserve and modernize this institution, if we are to make it, rather than break it," she said.

UNGA President warns global multilateral system "under attack"

UNGA President warns global multilateral system "under attack"