Tesla reveals new battery tech but falls short of hype
Tesla has used the occasion of its Battery Day event for a raft of announcements around the crucial electric vehicle technology.
Among the standout announcements was that Tesla plans to manufacture its own so-called “tabless” batteries for improved range and power, with promises of six times more power and 16% more range.
The company also plans to divest from cobalt inside its batteries, with the element, crucial to battery manufacture, generally being mined in startlingly poor conditions for workers. A timeline, however, was not given.
The final standout was Tesla’s plan to produce an electric vehicle that cost $25,000, in the hopes of a more accessible price driving wider adoption.
The much hyped event perhaps led to unrealistic expectations from investors, with in the aftermath. Indeed, Musk used to seemingly tamper expectations prior to the event, saying: “Important note about Tesla Battery Day unveil tomorrow. This affects long-term production, especially Semi, Cybertruck & Roadster, but what we announce will not reach serious high-volume production until 2022.”
Tesla has undoubtedly been one of the largest beneficiaries of the , buoyed in part by many amateur investors who consider themselves fans of Elon Musk and his ambitions with Tesla and a suite of other companies including SpaceX and The Boring Company.
Tesla’s dominance highlights the increased importance of technology to the automotive industry, with the announced battery tech dovetailing with the automated driving features essentially all manufacturers are racing to develop.