Elon Musk the Ceo of Tesla has been planning to bring an imminent battery technology improvements, going as far as to dub a forthcoming company talks “battery day” on public comments.
The CEO is planning to present new advanced technology, it has developed that has the strength to produce power sources for its EVs which last for “millions of miles” at a low cost. Reuters also reported that this will allow the automaker to sell cars at or below the market value of equivalent gas-guzzling internal combustion cars.
If it’s true then it is an important moment for Tesla. Reuters reports also mentioned that the development is the result of joint R&D work managed with China-based Contemporary Amperex Technology and also told that it is based on work done by a squad of crack Tesla battery technology researchers coming from a nerdy background that was enlisted by the CEO, Elon Musk himself, specifically to change the economics of electric power storage.
Tesla’s first aim is to launch the imminent battery in China, beginning with Model 3 according to Reuters. After this, the company plans to roll it out to other markets and vehicles, and ultimately produce batteries with brand new manufacturing procedures that are meant to bring down labor costs while a voluminous output rise, at so-called “terafactories” that would span up to 30X the space of the current Tesla Gigafactories, including the one in Nevada.
Battery capacity and production costs have long been a limiting factor in terms of the manufacturing costs of electric vehicles and are one big reason EVs carry a price premium when sold to customers. Automakers, including Tesla, point to lifetime fuel savings and tax incentives provided by local, state, and federal governments as mitigating factors that mean the lifetime cost of an EV is equal to or less than that of a gas car. Tesla’s new battery tech can change the dynamics so that the price on the sticker is also lower than a gas vehicle, which would be a significant driver of broader EV adoption.
The battery tech that Tesla is working on will include low-cobalt and cobalt-free versions of chemicals used, as well as newly designed materials and internal coatings to reduce the stress upon the active components and prolong their useful life, as per Reuters. Simultaneously, it will also operate a new system developed by its partner Contemporary Amperex Technology that removes the step of having to bundle cells before their installation in final battery packs, which will bring down battery pack unit weight and costs. It’s also inventing new recycling technologies for the components in its batteries so that its vehicle power sources can eventually be used across its other energy.