Tesla held its shareholder meeting-Battery Day twofer yesterday. Elon Musk and other execs addressed a parking lot full of Teslas, which honked to applaud when their fearless leader said anything remotely exciting…including quips about materials science.
The updates we’re here for: Tesla confirmed it’s designing its own batteries, which are larger and more streamlined than the electric Capri Suns it uses now. The company plans to wean itself off cobalt and build a new cathode plant to simplify battery production.
- Tesla said the new cylindrical cells (dubbed “4680”) will have 5x more energy, 6x more power, and 16% more driving range.
- Caveat: Wait for the follow-through. It will be at least three years before the new batteries reach full production.
Bottom line: Vertical integration is the name of the game for Tesla, so it makes sense that batteries will eventually be pulled in-house.
+ While we’re here: Tesla previewed its Plaid powertrain, a step up from Ludicrous mode. Musk also said he wants to release a $25,000 EV three years from now.
Via Morning Brew