From Investing.com:



Tesla has purchased land in Shanghai for a megapack battery manufacturing plant, with production expected to start in the fourth quarter of 2024. The company paid 222.42 million yuan for a 19.7-hectare plot of land near an existing Tesla plant producing cars. Construction of the project, which will be capable of producing 10,000 megapacks per year, is scheduled to begin in the first quarter of 2024, with production starting in the fourth quarter. Tesla’s gigafactory in Shanghai currently has an annual capacity of 1.1 million units, and the company has indicated its desire to expand its EV capacity in Shanghai, pending regulatory approval.



Original: Tesla acquires Shanghai land for megapack battery plant By Reuters