Tesla has transformed how people think about electric vehicles, and they could soon introduce a new battery that makes EVs cost-competitive with models powered by an internal combustion engine.
According to Reuters, the new “low-cost, long-life” battery will be installed in Model 3s built in China later this year or early next year. The battery was reportedly developed with China’s CATL and will be able to last for one million miles (1,609,344 km).
While the battery will be launched in China, the report says we can expect improved versions with higher energy densities, greater storage capacities and lower costs. These batteries will reportedly be installed in an assortment of Tesla vehicles and be offered in a variety of markets including North America.
Also Read: Tesla Model S And Model X Range Increased To 390 Miles And 351 Miles, Respectively
Little is known about the batteries themselves, but they will reportedly have low or cobalt free chemistries as well as special additives, materials and coatings to ensure a long life. The limiting or elimination of cobalt is important as Reuters noted it’s the “most expensive metal in EV batteries.” This will help to lower costs and it appears the new batteries will also use simpler and more cost-effective packaging.
Tesla is expected to reveal details about the battery later this month at a so-called Battery Day event. We could also learn more about the company’s plan for terafactories which are heavily automated battery plants which are far larger than their current gigafactories.
The publication says Tesla isn’t just focused on batteries as their “goal is to achieve the status of a power company.” While that sounds slightly bizarre on the surface, there are more than a million Tesla vehicles on the road and they store massive amounts of electricity. With directional charging, these vehicles could send power back to the energy grid and effectively turn Tesla into an energy company.
