Tesla Inc. (Nasdaq: TSLA) has acquired land to build its Shanghai Megapack factory that will have capacity to produce 10,000 battery packs a year, according to Bloomberg News.

The U.S. electric vehicle maker, which also runs other projects like energy storage and supercomputers, plans to break ground at the site in the first quarter of 2024, with production starting in the fourth quarter, Bloomberg reported. The Shanghai location is Tesla’s second dedicated Megapack factory, following the Lathrop plant in California. Its EV facility in Nevada can also make the Megapack.