Inside Tesla’s drive to keep Musk’s battery promise. tesla
The secret behind Elon Musk’s goal of selling 20 million Tesla’s a year by 2030 lies in its pioneering battery technology.
Battery systems are the most expensive single element in most EVs, so making lower-cost, high-performance packs is key to producing affordable electric cars that can go toe to toe with combustion-engine rivals on sticker prices. In August, Musk told shareholders Tesla would be producing high volumes of 4680 batteries by the end of 2022.
According to the sources, it should deliver as much as half of the $5,500 cost savings Tesla hopes to achieve, by slashing manufacturing costs and one-time capital spending. With the new technology, electrodes are coated using different binders with little use of liquids, so they don’t need to be dried. That means it’s cheaper, faster and also less environmentally damaging.
The rising cost of battery materials and energy pose a risk to those forecasts, however, and Tesla has not yet been able to significantly improve the new battery’s energy density or the amount of power it packs, as Musk has promised.
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