Tesla has officially broken ground on its new Megafactory project to build Megapacks for energy storage in China.

The Megafactory in Lathrop, California, was Tesla’s first dedicated factory to produce Megapacks, which were previously produced at Gigafactory Nevada.

It is still ramping up to its full capacity of 40 GWh worth of Megapacks, a battery pack for utility-scale energy storage projects, but it has already helped Tesla break new records of energy storage deployment almost every quarter.

Earlier this year, Tesla announced a plan to replicate the Megafactory in China through a deal with Shanghai’s Lingang authorities.

The project had an official signing ceremony late last year.

When first announcing the factory, Tesla aimed at starting construction during the second half of 2023 and production in Q2 2024.

However, it looks like the project suffered some delays.

The new timeline announced with the signing ceremony stated that construction was going to start soon for a production start toward the end of 2024.

Today, Tesla announced that it is officially breaking ground on the project:

Tesla officials at the ceremony updated the timeline again and they are now aiming for production to start in the first quarter of 2025.

That’s about a year behind the original timeline, but it’s also a super aggressive timeline considering it’s less than a year after breaking ground.

Like the Megafactory in California, Tesla aims for Megafactory Shanghai to eventually produce about 10,000 Megapacks per year, which is about 40 GWh of energy storage capacity.

On top of increasing its total energy storage output, the new production hub is also going to help Tesla slash its logistical costs by shipping its many Megapack projects in Asia-Pacific from there rather than the US.

The first FLO Ultra DC fast chargers are rolling off the assembly line at the company’s Auburn Hills, Michigan, factory – and they’re pretty powerful.

The 320 kW FLO Ultra DC fast chargers feature a dual-port power configuration. The EV charging company designed them to comply with the federal government’s National Electric Vehicle Infrastructure Program (NEVI) standards and the Buy America Act, including 98% uptime. They can charge most EVs to 80% in just 15 minutes.

The FLO Ultra DC fast chargers feature the new FLO motorized cable management system. The EZLift system is designed to keep cables off the ground and provide extended reach, allowing the cable to reach EVs no matter where the port is located. The motorized system makes the cables feel lighter and easier to maneuver.

Martine St-Onge, FLO’s chief manufacturing operations officer, said, “As we ramp up production, we look forward to making it more accessible to own and drive EVs by bringing our FLO Ultra charger to more locations across North America.”

A new Pew Research Center analysis released today found that 64% of US adults now live within two miles of a public EV charger – and those who live close to one are more likely to consider purchasing an EV. Over 95% of Americans now live in a county with at least one public EV charging station.

Read more: FLO is making clumsy DC fast charger cables a thing of the past

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Just when you thought the EV deals couldn’t get better, Ford is cutting 2024 Mustang Mach-E prices with a new 0% APR offer. The deal comes after Ford slashed Mach-E prices by up to $8,100 earlier this year.

Ford is offering 0% APR on the 2024 Mustang Mach-E

After dropping prices in February, Ford’s EV sales surged 86% in Q1, securing second in the US electric vehicle market.

Ford’s Mustang Mach-E was the second best-selling electric SUV behind Tesla’s Model Y, with 9,589 units sold, up 77% over last year.

According to a study by data analytics firm Cloud Theory, the impact of Ford’s price cuts was “dramatic and immediate.” Mach-E weekly movement rose from around 300 to over 1,000, reaching as high as 1,800 in early March.

With the competition intensifying, Ford is sweetening the deal again to make the electric SUV even more attractive.

Based on a new note sent to dealers, the 2024 Ford Mustang Mach-E now features a 0% APR deal for 48 months. According to online auto research firm CarsDirect, this is the best date on the 2024MY so far.

The offer comes after the 4-year rate went to 1.9% from 2.9% less than a week ago. The report notes most Mach-E rates are about 3% lower than at the beginning of May. For example, the 60-month rate dropped to 0.9% (from 3.9%), while the 72-month rate was cut to 2.9% (from 5.9%).

CarsDirect estimates that the Mach-E is almost $5,000 cheaper than it was in early May on a $50,000 loan. However, the offer is only currently available in certain states, including Arizona, California, Colorado, Florida, Michigan, Oregon, Texas, and Washington.

If you’re looking for more deals, Ford is offering 0% APR (72 months) on all 2023 Mach-E models plus up to $3,000 in bonus cash. Meanwhile, if you’re trading in a Tesla, you can save up to $10,000 in some states.

Are you ready to take advantage of Ford’s new price cuts? We can help you get started. You can use our link to find deals on Mustang Mach-E models at a dealer near you.