• World News
  • Politics
  • Stock
  • Investing
  • Editor’s Pick
Time And Sales Reporter
Editor's Pick

Tesla agrees to first deal to build China’s largest grid-scale battery power plant

by admin June 22, 2025
June 22, 2025

Tesla has inked its first deal to build a grid-scale battery power plant in China amid a strained trading relationship between Beijing and Washington.

The U.S. company posted on the Chinese social media service Weibo that the project would be the largest of its kind in China when completed.

Utility-scale battery energy storage systems help electricity grids keep supply and demand in balance. They are increasingly needed to bridge the supply-demand mismatch caused by intermittent energy sources such as solar and wind.

Chinese media outlet Yicai first reported that the deal, worth 4 billion yuan ($556 million), had been signed by Tesla, the local government of Shanghai and financing firm China Kangfu International Leasing, according to the Reuters news agency.

Tesla said its battery factory in Shanghai had produced more than 100 Megapacks — the battery designed for utility-scale deployment — in the first quarter of this year. One Megapack can provide up to 1 megawatt of power for four hours.

“The grid-side energy storage power station is a ‘smart regulator’ for urban electricity, which can flexibly adjust grid resources,” Tesla said on Weibo, according to a Google translation.

This would “effectively solve the pressure of urban power supply and ensure the safe, stable and efficient electricity demand of the city,” it added. “After completion, this project is expected to become the largest grid-side energy storage project in China.”

According to the company’s website, each Megapack retails for just under $1 million in the U.S. Pricing for China was unavailable.

The deal is significant for Tesla, as China’s CATL and carmaker BYD compete with similar products. The two Chinese companies have made significant inroads in battery development and manufacturing, with the former holding about 40% of the global market share.

CATL was also expected to supply battery cells and packs that are used in Tesla’s Megapacks, according to a Reuters news source.

Tesla’s deal with a Chinese local authority is also significant as it comes after U.S. President Donald Trump slapped tariffs on imports from China, straining the geopolitical relationship between the world’s two largest economies.

Tesla Chief Executive Elon Musk was also a close ally of President Trump during the initial stages of the trade war, further complicating the business outlook for U.S. automakers in China.

The demand for grid-scale battery installation, however, is significant in China. In May last year, Beijing set a new target to add nearly 5 gigawatts of battery-powered electricity supply by the end of 2025, bringing the total capacity to 40 gigawatts.

Tesla has also been exporting its Megapacks to Europe and Asia from its Shanghai plant to meet global demand.

Capacity for global battery energy storage systems rose 42 gigawatts in 2023, nearly doubling the total increase in capacity observed in the previous year, according to the International Energy Agency.

— CNBC’s Arjun Kharpal contributed reporting.

This post appeared first on NBC NEWS

previous post
The NASDAQ 100, On The Brink Of A Breakout, Needs Help From This Group
next post
Canada Makes Tech Leadership Moves: Axl Launches, Carney Shares Priorities at G7 Summit

Related Posts

Target is eliminating 1,800 corporate jobs as it...

October 25, 2025

X-ray tables, hidden cameras: The tech in rigged...

October 25, 2025

Travis Kelce part of investor group aiming to...

October 24, 2025

Trump’s Argentina beef import plan will harm U.S....

October 24, 2025

Customers sue sneaker company On over shoes that...

October 21, 2025

Giorgio Armani group names longtime executive Giuseppe Marsocci...

October 18, 2025







    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.




    Recent Posts

    • X-ray tables, hidden cameras: The tech in rigged poker games linked to the mob and NBA

      October 25, 2025
    • Target is eliminating 1,800 corporate jobs as it looks to reclaim its lost luster

      October 25, 2025
    • Trump admin accuses Hillary Clinton of stealing White House furniture as former first lady slams ballroom plan

      October 25, 2025
    • White House responds to reports Trump named new ballroom after himself

      October 25, 2025
    • Cruz ‘cannot support’ Trump’s Kuwait ambassador pick over Muslim Brotherhood remarks

      October 25, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 timeandsalesreporter.com | All Rights Reserved

    Time And Sales Reporter
    • World News
    • Politics
    • Stock
    • Investing
    • Editor’s Pick

    Read alsox

    The Deadly Cost of Drug Busts: How Law...

    March 19, 2025

    Starbucks imposes new limits on what baristas can...

    April 24, 2025

    Fox streaming service to be called Fox One,...

    May 13, 2025