Tesla Signs Major Deal in China to Develop Crypto Energy Storage System Groundbreaking Deal with Shanghai Government
Tesla has confirmed a contract to build a 4 billion yuan (about $556 million) large-scale energy storage center with the Shanghai municipal government and China Kangfu International Leasing. The project will be a “smart regulator” for the urban power grid, adjusting energy according to actual demand. The system is capable of flexibly switching energy sources to quickly respond to changes in electronic consumption in the city.
Upon completion, the project is expected to become China's largest energy storage facility, helping to reduce pressure on the power grid and ensure safe, stable and efficient operation.
Efficiency from Tesla's industrial-scale storage systems in Shanghai
In the first quarter of this year, Tesla’s Shanghai battery factory produced more than 100 Megapacks. Each Megapack is capable of delivering up to 1 MW of power for four hours, creating optimal conditions for large-scale energy storage projects. These systems play a strategic role in maintaining the balance of energy supply and demand, especially when solar and wind power are facing generation constraints.
China's Grid Expansion Strategy with Tesla Despite Trade Tensions
According to Tesla’s official website, each Megapack costs less than $1 million in the United States, but there has been no official announcement about the price in China. The deal is a big step forward for Tesla in the race for grid battery market share, competing directly with domestic rivals CATL and BYD. CATL controls about 40% of the global market share for battery cells and large-scale battery chargers.
Amid US-China trade tensions, negotiations for the project took place in a dramatic environment. Tesla CEO Elon Musk was initially linked to Trump's policies, complicating the group's cooperation in the Chinese market.
Development trend of large-scale energy storage systems in China
Beijing aims to add nearly 5 gigawatts (GW) of battery storage capacity by 2024, bringing the total to 40 GW by the end of the year. This is in line with its strategy to improve the safety of the national grid. Meanwhile, Tesla has begun exporting Megapacks from Shanghai to Europe and other Asian markets to serve global customers.
According to the International Energy Agency, global battery storage capacity has increased by 42 GW in 2023, nearly double that of 2022, clearly demonstrating the booming trend of energy cryptocurrencies and integrated battery technology.
Source: https://tintucbitcoin.com/tesla-ky-hop-dong-lon-tai-trung-quoc/
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