Elon Musk LEAKED A New EV Battery: “80% Charge In 72 Seconds”
Elon Musk lost his position as the richest man in the world while embroiled in a contentious US$44 billion buyout and significant reorganization of Twitter. Since then, mocking Elon Musk has almost become a global sport.
But as it becomes clearer just how much Tesla, Musk’s electric vehicle (EV) company, is poised to take control of the world’s highways, it is becoming much more likely that Musk will come out on top.
And just recently, he just leaked a new EV battery that charges in 72 seconds. What battery is this? Let’s find out!
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In the previous week, Musk also triumphed in the legal battle involving his tweets from 2018 in which he claimed to have secured funding to take Tesla private.
A US$3.6 billion investment by Tesla into its Nevada gigafactory, which Musk revealed late last month, has helped the company’s shares rise more than 30%.
Tesla exhibits extraordinary cost effectiveness.
How far ahead of the competition Tesla is in terms of battery mass production and pricing was finally made clear by the significant investment made into the gigafactory.
Tesla, according to Musk, will soon be the dominant automaker in the world and is currently the industry leader in profitability and manufacturing efficiency.
In addition to high-volume production lines for Tesla’s upcoming semi-electric truck, the Nevada factory expansion will be able to produce 1.5 million light vehicles annually in terms of batteries, with a stretch goal of five times that number.
Given that Tesla is already very close to the bottom of the cost curve for battery production, which is already compelling other car manufacturers to offer their EVs for less than cost merely to compete, that would have really sent shivers through the rest of the automotive industry.
Price reductions for Tesla vehicles are a sign of strength
The fact that Tesla’s car prices are declining, which some Twitter haters interpreted as a sign of desperation to finance the acquisition, is really just evidence of the company’s continued market dominance in the EV space and its ease in cutting its large profit margins to hurt rivals.
Tesla has pre-tax margins of 17%, which is approximately twice what the rest of the industry average is.
According to analysts who studied the investment’s fine print, including Adam Jonas from Morgan Stanley, Tesla is able to produce battery production capacity for around a third of the price of its top rivals.
As a result, the company has already slashed the cost of investing in batteries per GWh in half and is on track to reach its long-term goal of reducing battery production costs to 69% of 2020 pricing.
Toyota could face serious problems.
That is terrible news for manufacturers who have fallen behind in the race, but it is truly ominous news for other EV producers in China and the US.
Analysts have noted that Toyota is in significant jeopardy as a result of its reliance on ICE (internal combustion engine) cars and lack of success with EV manufacture.
Toyota has long been praised for its leadership and ability to manage manufacturing costs, but there is now widespread fear that the company is so far behind the rest of the world in EV production that it will be difficult to catch up.
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