Tesla To Introduce $25,000 Car In 3 Years’ Time, Plans To Bring Battery Costs Down
The EV maker has previewed a new gen battery that will provide more power and range.
Electric carmaker Tesla has previewed a new gen battery that will offer more range, be more powerful and importantly be half as expensive as the current battery modules.
Revealed at the firm’s “Battery Day” event that was held on Tuesday, this new tech, Tesla CEO Elon Musk stated, would enable the firm to produce a $25,000 (Rs. 18.38 lakhs) vehicle in three years from now.
Tesla’s new and larger cylindrical cells will provide five times more energy, six times more power and 16 percent greater driving range, Musk said, while emphasising the importance of bringing battery costs down to produce a more affordable product.
One way the firm plans to reduce battery cost is by recycling battery cells at its Gigafactory in Nevada. The firm also wants to reduce the use of cobalt to virtually nil and wants to manufacture its own battery cells in the future.
However, Musk has conceded that his firm has not made advancements needed to get to that point (halving battery cost) as of now.
But, the firm, which is currently building its own cell manufacturing facility in Germany and in Fremont, California, wants to be able to build around 20 million electric vehicles a year.
If they plan on doing that, then a more affordable product powered by new gen Tesla battery will go a long way in helping them achieve that goal.
Elon Musk has the tendency to promise big and not live up to expectations. Let us hope this is not one among them.