A Drive in a meeting is held on Tesla’s battery day 2020 event, Tuesday by the Tesla CEO Elon Musk, where the shareholders are in their parked cars and honking their horns to accept the ideas. He proposed a few ideas which are to be implemented in the Tesla Company. The ideas include diminishing the cobalt usage in the batteries, constructing a new cathode plant for battery production, Tabless battery technology, which will cut the vehicle’s cost, a new model car with the latest battery technology for $25,000. He also confirmed that the Model S Plaid of cost $139,990 would be released in 2021.
Diving into the details, he declared to cut out the use of cobalt in batteries. Elon Musk said that they already reduced cobalt usage as the material mining done by violating human rights. Also, he said that the batteries would be more affordable if they diminish the usage of cobalt. Elon Musk stated, “It’s absolutely critical that we make cars that people can actually afford, affordability is key to how we scale.”
Musk also released a Plan for a new battery technology proposing a tabless battery, which will reduce the cost per Kilowatt-hour to half. He affirms that 4860 cells will amplify the battery’s power to six times, and the range will be increased by 16 percent. The measurement of this tabless battery will be 46mm X 80mm. Based on this, they named the battery 4680. Implementation of this plan will completely cut off the already slowed down battery production from Panasonic.
Tesla already announced that its next factory would be in Austin, Texas. Now Musk stated that they would build a new cathode plant in North America and try to make the cathodes 76 percent cheaper. But he did not say anything about the plant to be started in Austin. The next place in consideration may be Tulsa, Oklahoma.
Using the tabless battery technology, Tesla planned to produce an Electric vehicle at the cost of $25000. He already stated that the cost of Kw h is reduced for half, so the vehicle rate also will be reduced to half. He already promised this Electric Vehicle at $25000 back in 2018 and said it would be released in 3 years.
We all know about the set back of the tempting Plaid powertrain Ludicrous model. Its price is already listed as $139,990 on Tesla’s website. The model has a horsepower of 1,100, reaches a 200 mph speed, and can be accelerated from 0 to 60 mph within 2 seconds. This model will arrive in late 2021. Musk also released a clip showing the speed pick up of the vehicle in September 2019.
Because of this New battery development and $25000 Electric car, there is a drop of $50 billion in Tesla’s market value. The announcements made by Musk are not yet tangible, but there are instant effects on the market at these ideas.
Image source: TheVerge