Elon Musk Says GOODBYE To Lithium!
Tesla, a company that manufactures electric vehicles, intends to introduce a new battery for its future vehicles in China either later this year or early next year that will have a low cost and a long life. The company anticipates that this will bring the cost of electric vehicles up to par with gasoline models and enable electric vehicle batteries to have second and third lives in the electric power grid.
Elon Musk, the Chief Executive Officer of Tesla, has been teasing investors and competitors with promises to unveil significant advancements in battery technology for a number of months now.
People who are acquainted with the plans told Reuters that Musk’s objective includes developing new batteries that are inexpensive and designed to have a lifespan of one million miles of use. This would make it possible for electric Teslas to be sold profitably for the same price or less than a gasoline vehicle.
But how far is Elon Musk’s team making progress toward this goal? And what is the existing battery technology that holds a promising future in the EV industry? We will all find out in today’s episode!
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As more people across the world turn to renewable energy sources like the sun and the wind for their power needs, there has been an increase in the need for high-performance rechargeable batteries. These batteries are absolutely necessary for the storage of energy derived from variable sources of renewable energy. Even though today’s lithium-ion batteries are quite efficient, there is still room for development in this area. One strategy to increase the performance of electrodes is to develop new materials for the electrodes themselves.
The process of translating a discovery made in the lab into something that can be used in everyday life can be time-consuming and plagued with obstacles. On the other hand, things might be different in the future thanks to Tesla’s resources and expertise.
According to some sources, Tesla’s end goal is to become a power company with a global fleet of more than one million electric vehicles that are capable of connecting to and sharing power with the grid. This would put Tesla in direct competition with traditional energy providers such as Pacific Gas & Electric PCG and Tokyo Electric Power.
The new battery that is at the centre of Tesla’s strategy was developed jointly with China’s Contemporary Amperex Technology Ltd (CATL) and uses technology developed by Tesla in collaboration with a team of academic battery experts recruited by Musk, according to three people who are familiar with the effort.
According to the sources, at some point in the future, better versions of the battery will be released in further Tesla vehicles in other areas, including North America. These batteries will have a greater energy density and storage capacity, as well as a cost that is even lower.
It has not been previously revealed that Tesla intends to first introduce its new battery to the Chinese market as part of a larger strategy to reposition the company.
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