Citing sources familiar with the plans, Reuters reported Thursday that Tesla and Chinese battery supplier CATL have developed a low-priced battery capable of lasting a million miles. That's not the official name, of course, but it's a reference to how much longer the cells can operate before failing.
Making this possible are new methods of producing batteries at volume and reducing or even eliminating the use of cobalt, which is the most expensive material used in batteries today.
The new battery, which is expected to be introduced later this year or early next year, will have a lifespan of 1 million miles and enable Tesla cars to compete on price with gasoline-powered vehicles, Reuters reported Thursday, citing anonymous sources.
In February, Tesla and CATL were reportedly in advanced talks that could result in Tesla using the Chinese company's cobalt-free batteries in vehicles made at the US automaker's Shanghai plant. The American electric carmaker also plans to implement new high-speed, automated battery manufacturing processes created to reduce labour costs.
Depression or storm may form by Friday
As of Wednesday, the NHC said that environmental conditions appear conducive for its gradual development. The storm is expected to move generally northeastward over the western Atlantic through early next week.
Now for Tesla, this wondrous cells apparently were developed together with CATL and unnamed experts. Dahn and his team have been working on the project with Tesla since 2016, but their relationship extends back to 2012.
While the new batteries will start in China, sources claim Tesla will roll them out to other regions, but that might not happen until there are improved versions with better capacity and stability. To add some perspective, when General Motors announced its new Ultium battery recently, it said it hopes to get the cost of its batteries below $100 per kWh by 2025.
Recycling and recovery of expensive battery materials is also part of the plan.
Battery capacity and production costs has always been a limiting factor in terms of the manufacturing costs of electric vehicles, and is one big reason EVs carry a price premium when sold to customers. Iron phosphate batteries, which are safer than NMC, could find a second life in stationary grid storage systems, reducing the upfront cost of those batteries for electric vehicle buyers.