00:00 US carmaker Tesla just announced its new MegaFactory project officially launched.
00:07 The factory is expected to produce megapacks like those behind me.
00:12 They are expected to produce 10,000 megapacks a year and export it globally.
00:19 MegaPack is a powerful battery that provides energy storage and support,
00:23 helping to stabilize the grid and prevent outages.
00:29 The new project, located in the Lingang New Area of the China-Shanghai Pilot Free Trade Zone,
00:35 is scheduled to break ground in the first quarter of 2024 and start production in the fourth quarter.
00:42 The factory will initially produce 10,000 megapack units every year,
00:47 equal to nearly 40 gigawatt hours of energy storage.
00:52 The products will be sold worldwide.
00:55 In January 2019, Tesla's Shanghai GigaFactory broke ground here in Shanghai,
01:02 and the company keeps investing and expanding its capacity ever since.
01:07 This time yet again, Tesla chose the Lingang New Area of Shanghai FTZ
01:13 as a confidence vote of Shanghai and China.
01:17 From January to November this year, Tesla's Shanghai GigaFactory delivered more than 850,000 vehicles,
01:25 an increase of 30% year-on-year.
01:28 It has also evolved into Tesla's main global export center.
01:33 [Music]
01:37 [Silence]
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