Tesla (TSLA) Expands Energy Storage in China with New Grid Project

Jun 20, 2025

Tesla (TSLA, Financial) has increased by 1% to $325.5 in pre-market trading. The company is expanding its presence in China's energy storage market by signing a deal with Shanghai for its first grid-side energy storage project in mainland China, with a total investment of 4 billion yuan.

In 2024, Tesla's global energy business is expected to see rapid growth, with energy storage installations projected to reach 31.4 GWh worldwide. In the first quarter of this year, Tesla's global energy storage systems added 10.4 GWh of new capacity, a year-over-year increase of 156.6%, marking a record high.

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