While the US government is trying to limit technology investments in China, Elon Musk and Tesla continue to invest in China. Tesla recently acquired land to build another megafactory in Shanghai, reports Reuters.

Tesla paid 222.42 million yuan ($31.13 million) for the rights to use the 19.7-hectare plot. The site is located near Tesla’s existing plant in Shanghai, which produces Model 3 and Model Y cars.

The new factory, which is expected to produce up to 10,000 Tesla Megapack energy storage devices (up to 3.9 MWh in a standard intermodal container) per year, will start operating in Q4 2024.