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- Tesla’s (NASDAQ:TSLA) first grid-scale battery storage project in China, using its Megapack batteries, will be situated in Shanghai, local outlet Yicai reported Friday.
- The $556.8M (4 billion yuan) deal was signed on Friday between Tesla, China Kangfu International Leasing Co., and the Shanghai municipal government, according to the report.
- TSLA shares were up 1.3% premarket.
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