Tesla Inc. Megapack batteries on the Victorian Batter Battery Site of Neoen Sa in Moorabool, Victoria, Australia, on Friday, February 3, 2023. Photographer: Carla Gottgens/Bloomberg via Getty Images
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Tesla has completed its first deal for the construction of a battery power plant on a grid in China in the middle of a tense trade relationship between Beijing and Washington.
The US company has posted Weibo in Chinese social media service that the project would be in China after completing the largest of its kind.
Battery storage systems on the supply scale support power grids that keep the supply and demand in balance. They are increasingly needed to bridge the non -agreement of the supply by intermittent energy sources such as solar and wind.
The Chinese media company Yicai reported for the first time that the deal worth 4 billion yuan (556 million US dollars) was signed by Tesla, the local government of Shanghai, and the financing company China Kangfu International Leasing.
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Tesla said his battery factory in Shanghai in the first quarter of this year more than 100 megapacks-die battery for the use of supply standards. A megapack can deliver up to 1 megawatts of electricity for four hours.
“The energy storage at the grid is a 'smart regulator' for urban electricity that can flexibly adapt the scan resources,” said Tesla according to a Google translation to Weibo.
This would “effectively solve the pressure of the urban power supply and ensure the safe, stable and efficient electricity requirement of the city,” she added. “After completion, this project is expected to be the largest energy storage project in China.”
According to the company's website, every megapack for almost 1 million US prices in the US prices for China does not cost.
The deal is important for Tesla as China's Catl and car manufacturer Byd compete with similar products. The two Chinese companies have made considerable progress in battery development and production, with the former holding about 40% of the global market share.
According to a Reuters news source, CATL was also expected to provide battery cells and packs that are used in Teslas megapacks.
Teslas Deal with a Chinese local authority is also important, since US President Donald Trump has hit the tariffs on imports from China and stresses the geopolitical relationship between the two largest economies in the world.
Elon Musk, Managing Director of Tesla, was also a close ally of President Trump in the first phases of the trade war and complicates the business prospects for US car manufacturers in China.
However, the demand for battery installation on the network is important in China. In May last year, Beijing set a new goal by the end of 2025 to add almost 5 gigawatts of battery -operated power supply, which increases the total capacity to 40 gigawatts.
Tesla also exported his megapacks to Europe and Asia from his work in Shanghai to satisfy the global demand.
The capacity for global battery storage systems rose by 42 gigawatts in 2023 and, according to the International Energy Agency, almost doubled the overall increase in capacity observed last year.
– Arjun Kharpal from CNBC has contributed to the reporting.
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