Tesla's Shanghai Megapack energy storage plant Photo: CFP

The first batch of Tesla's Megapack energy storage systems produced at its Shanghai Megafactory is set to depart the port heading for Australia on Friday, after the facility, the first of its kind built by Tesla outside the US, launched production just more than a month ago.

The move represented the latest achievement of foreign companies investing in China. The country's stable economic development, its firm commitment to opening-up and complete industrial chain have brought confidence to foreign investors, achieving win-win results through two-way collaboration, an expert said.

According to a statement sent to the Global Times, Tesla said that the batteries produced at the Shanghai facility will serve both the domestic and wider Asia-Pacific markets. The company noted the Megapack shipment reflects its expanding presence in the global energy storage market and the broader application of its battery technology beyond electric vehicles.

The Megafactory, with an initial annual production capacity of 10,000 units, or roughly 40 gigawatt-hours of energy storage, launched production on February 11. The company anticipates a year-on-year increase of 50 percent in energy storage deployments in 2025, according to the Xinhua News Agency.

"Cooperation between Tesla and China in the field of energy storage is a model of win-win situation for both sides," Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times on Friday, noting that it is also vivid evidence of China's continuous opening-up.

On the same day, the Shanghai Municipal Government awarded certificates to 30 regional headquarters of multinational corporations, 10 foreign-invested research and development (R&D) centers and 10 global partners in promoting foreign investment.

Among the 40 newly certified regional headquarters of multinational corporations and foreign-funded R&D centers in Shanghai, more than half are from key industries prioritized for development by the city, including leading enterprises in electronics and information technology, biopharmaceuticals, high-end equipment manufacturing, fashion and consumer goods, and new-energy sectors, according to China Media Group (CMG).

These companies demonstrate high corporate capabilities, with nine establishing Greater China or higher-level regional headquarters, and four being invested by Fortune Global 500 companies, CMG said.

Among the 10 global partners for promoting foreign investment, there are internationally renowned professional service institutions, financial institutions, and business associations. These global partners possess extensive domestic and international networks, abundant investment promotion resources, and strong global influence. Leveraging their channels and resources, they help more foreign investors and international capital understand, choose, and invest in Shanghai, said the report.

Wang noted that this demonstrates Shanghai's effectiveness in promoting industrial upgrading and transformation, as well as multinational companies' recognition of the city's development potential. Moreover, Shanghai's attractiveness to foreign investment also benefits from its first-class business environment with its high degree of openness and supporting policies.

In February, Shanghai introduced several measures to support the enhancement of capabilities of multinational corporation regional headquarters, including encouraging headquarters to integrate functions such as R&D innovation, treasury management and investment decision-making. 

Regional headquarters are also encouraged to upgrade to Asia-Pacific regional headquarters, and establish global headquarters in specific sectors such as biomedical/pharmaceuticals, integrated circuits, artificial intelligence, new materials, and new energy, while providing more substantial funding incentives. 

In 2024, Shanghai certified 60 multinational corporation regional headquarters and 30 foreign-funded R&D centers. By the end of February this year, the city has 1,027 regional headquarters and 597 foreign R&D centers.

Shanghai's latest move mirrors the country's firm commitment to opening-up. "Regardless of changes in the external environment, we should remain steadfast in our commitment to opening-up," reads this year's Government Work Report.

Wang said that China, in addition to its stable economic development and its firm commitment to opening-up, possesses abundant and cost-effective innovation resources, well-developed industrial chain with high productivity, and vast market demand, which has given a boost of confidence to foreign companies looking to develop in China.

"With the upgrading and transformation of China's industry, high-end equipment manufacturing and intelligent manufacturing areas will become the focus of foreign investment. More cooperation will also be ushered in in the financial, telecommunication, medical, education and other service industries," Wang noted.

In the January-February period, the country set up 7,574 new foreign-invested enterprises, a year-on-year increase of 5.8 percent. The actual utilization of foreign investment in the e-commerce service industry increased by 33.5 percent, in the biological drug manufacturing industry was up 22.9 percent, and the intelligent consumer equipment manufacturing industry witnessed 40.7 percent year-on-year, data from China's Ministry of Commerce showed.