Tesla's stock showed positive movement with a 1.8% rise in premarket trading as the company traded 527,000 shares. Concurrently, Tesla has announced the launch of the Shanghai megapack battery project in China. The electric vehicle manufacturer is set to start building a megapack battery plant, which has been confirmed by various sources including Chinese state media and Reuters. The project is a strategic move to expand Tesla's manufacturing capabilities in energy-storage batteries. Tesla has acquired land in Shanghai for the new facility, with plans to commence construction in 2024. This development is a clear indication of Tesla's commitment to growing its operations in China, the world's largest market for electric vehicles and renewable energy storage solutions.
$TSLA (+0.6% pre) Tesla acquires Shanghai land for megapack battery plant - Reuters https://t.co/ydfE6Suk2U
Tesla launches project to build new Megafactory in China https://t.co/K9C9Jkk1sS by @fredericlambert
NEW: Tesla moves forward with a plan to build an energy-storage battery factory in China https://t.co/2KHqDziSFN
Tesla will build a factory for the production of energy-storage batteries in China https://t.co/HzDxhhpHyQ https://t.co/CFiZ4lhTvn
NEW - Tesla launches Shanghai battery plant project https://t.co/aybFvqTu6U
Tesla to start building Shanghai battery plant in 2024 https://t.co/oadSHKex5a
Tesla launches Shanghai megapack battery project - Chinese state media https://t.co/CtB4RtxgWO https://t.co/QJHNMuRkgP
Tesla Stock Is Up Again. This Is Where Itβs Headed. https://t.co/5bAUr05lYh
$TSLA πΈ Tesla stock rises 1.8% in premarket trading on volume of 527,000 shares