Electric car maker Tesla Inc plans to introduce a new low-cost, long-life battery in its Model 3 sedan in China in 2020 or early 2021. It expects to bring the cost of electric vehicles in line with gasoline models, and allow EV batteries to have second and third lives in the electric power grid. Reuters agency reported this.
For months, Tesla Chief Executive Elon Musk has been teasing investors, and rivals, with promises to reveal significant advances in battery technology during a “Battery Day” in late May.
According to people familiar with the plans say that new, low-cost batteries designed to last for a million miles of use and enable electric Teslas to sell profitably for the same price or less than a gasoline vehicle are just part of Musk’s agenda.
With a global fleet of more than 1 million electric vehicles that are capable of connecting to and sharing power with the grid, Tesla’s goal is to achieve the status of a power company, competing with such traditional energy providers as Pacific Gas & Electric (PCG_pa.A) and Tokyo Electric Power (9501.T), those sources said.
Tesla also plans to implement new high-speed, heavily automated battery manufacturing processes designed to reduce labor costs and increase production in massive “terafactories” about 30 times the size of the company’s sprawling Nevada “gigafactory” — a strategy telegraphed in late April to analysts by Musk.
Taken together, the advances in battery technology, the strategy of expanding the ways in which EV batteries can be used and the manufacturing automation on a huge scale all aim at the same target: Reworking the financial math that until now has made buying an electric car more expensive for most consumers than sticking with carbon-emitting internal combustion vehicles.
“We’ve got to really make sure we get a very steep ramp in battery production and continue to improve the cost per kilowatt-hour of the batteries — this is very fundamental and extremely difficult,” Musk told investors in January. “We’ve got to scale battery production to crazy levels that people cannot even fathom today.”
Earlier, Ukraine's Verkhovna Rada registered draft bills on the production of electric cars. The bills provide for the creation of conditions for the production of domestic cars, buses, trucks, and special equipment with electric motors in Ukraine.