Energy storage trade looking for factories

Why should a battery factory be a local Gigafactory?

By establishing local gigafactories, automakers, and battery manufacturers can reduce supply chain dependencies, ensure a stable and timely supply of batteries, and potentially benefit from government incentives and regulations that promote domestic battery production.

Is China a major market for energy storage?

China is also by far the world leader in installing wind and solar capacity, making it a major market for energy storage. Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Will a weaker economy affect energy storage?

That would increase the U.S. share of global lithium-ion battery cell production capacity to nearly 14% by 2025, up from 4.7% in 2021. Should a weaker overall economy hit demand for electric vehicles, energy storage stands to benefit, according to Zahurancik.

Why is energy storage important?

To achieve New York’s climate goals, it's clear energy storage will play an important role in the electric grid & transportation system of the future. We work to ensure that markets are developed fairly & with an eye towards enabling a clean energy future. Discover more about our history, mission, leadership, and more.

Will Shanghai help Tesla build a new factory?

Wu Xiaohua, a Shanghai government official, said at the commencement ceremony Thursday that the city would assist Tesla in finishing the construction and putting the factory into operation “as soon as this year.” Musk met with Chinese premier Li Qiang during his visit late last month.

How many megapacks can a battery factory make a year?

The factory, which was announced in April last year, aims to begin production in the first quarter of 2025. It will be able to make 10,000 Megapacks — very large batteries used to store huge amounts of electricity — each year, according to a statement by Lingang Group, the government-owned developer of the area housing the plant.