Elon Musk announced technology that will make Tesla batteries cheaper and more powerful.
On a live presentation called Battery Day Musk raised the possibility of a fully autonomous $ 25,000, Tesla in about three years.
According to Musk, it has always been their dream to make an affordable electric car, he said.
It has been claimed that the new batteries will provide five times the power, six times the power, and 16% longer range. But according to TodayNewsPost the news didn’t excite investors and $50bn was wiped off its stock market value.
The announced technology will likely take years to implement.Tesla’s approach includes integrating the battery so that it becomes part of the structure of the vehicle, thus reducing the effective weight of the battery. 240 shareholders discussed the issue- each seated in a Tesla Model 3.
One expert said scaling up would be challenging.
“Even with really experienced car manufacturers, we tend to see a very high scrap rate of production in the first couple of years,” said Casper Rawles, head of price assessments at Benchmark Mineral Intelligence. Mr Rawles also warned that so much of the content of the battery is expensive metals – ‘You can only reduce the cost down to a point’.
The technology announced is likely to take years to implement. Musk also announced that in addition to buying batteries from Panasonic and LG Chem, Tesla himself will start making them.