06:22 AM EDT, 06/20/2025 (MT Newswires) -- Tesla (TSLA) has signed a deal to invest 4 billion Chinese renminbi ($556 million) in the construction of its first grid-scale battery storage station using its megapack batteries in China, Reuters reported on Friday, citing a report from local news outlet Yicai.

The report stated that the station will be located in Shanghai, and the company has signed a deal with the local government and China Kangfu International Leasing.

Tesla did not immediately respond to MT Newswires' request for comment.

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