Published 10:12 IST, June 11th 2020
Tesla's new low-cost batteries built to last 'million miles' to launch in China this year
Tesla Inc. will introduce a new affordable and long-life battery in its Model 3 sedan in China later this year that is expected to bring down the cost of EVs
Electric car manufacturer Tesla Inc. is all set to introduce a new affordable and long-life battery in its Model 3 sedan in China later this year that is expected to bring the cost of electric vehicles in line with gasoline models and to increase EV battery lives of cars in the electric power grid.
The new low-cost EV batteries built to last for a million miles will enable Teslas to sell profitably for the same price as gasoline vehicles, as per the company. With a global fleet of more than one million electric vehicles, Tesla aims to become a power company, competing with such established energy providing companies such as Pacific Gas & Electric and Tokyo Electric Power.
Jointly developed with China’s Contemporary Amperex Technology Ltd (CATL), the new “million-mile” battery deploys Tesla’s technology in collaboration with academic battery experts recruited by chief Elon Musk.
Advanced versions of the battery, with greater energy density and storage capacity and even lower price, will eventually be available in other markets, including North America.
Cobalt-free batteries
Relying on innovations such as low-cobalt and cobalt-free battery compounds, Tesla's new batteries are developed using chemical additives, materials, and coatings that reduce internal pressure and allow EV batteries to store excess energy for a longer period.
The company also plans to improvise the manufacturing process by implementing new high-speed, heavily automated machines. The aim is to reduce labour costs and increase production in massive “terafactories” about 30 times the size of the company’s sprawling Nevada “gigafactory”.
Updated 10:13 IST, June 11th 2020