Tesla could launch a million-mile battery this year

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He's reportedly teasing a battery that is low-priced and created to last for a million miles of use. According to Reuters, the new batteries promise a million miles of use at such low cost it would bring the price of electric vehicle on par with ICEs - a milestone the industry has always been aiming for. That will not only reduce the amount of hazardous waste associated with electric vehicles but also help reduce the effective cost of new batteries. Most of what we know about the probable technology comes from the expertise of the new hires and studies released by Tesla's partners. Tesla is also looking into using recycled metals like nickel, cobalt, and lithium, and it will use CATL's exclusive, affordable way of packaging battery cells.

Tesla also plans to implement new high-speed, heavily automated battery manufacturing processes created 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. Tesla even opened a Gigafactory to manufacture batteries in Shanghai recently, becoming the first foreign automaker to own and operate its own factory in China.

Tesla is also mulling a 20,000 yuan price cut for the long-range version of the domestically built Model 3 sedan, even though the reduction will still fall short of the subsidies requirements. Dahn and his team have been working on the project with Tesla since 2016, but their relationship extends back to 2012. Dahn. According to a Reuters source, CATL will supply a new battery to Tesla for the Chinese oriented Model 3. CATL's lithium-iron-phosphate battery packs cost less than $80 per kWh, with the cost of the battery cells below $60/kWh, sources tell Reuters.

It's not hidden that Tesla has invested significant capital in China.

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Specifically, Dahn's team developed chemical additives and nano-engineered materials that make lithium-ion batteries tougher.

At the end of 2019, battery prices were about $156/kWh; it's widely thought $100/kWh is the number the auto industry needs to reach to make electric cars' cost on par with gasoline cars.

Recycling and recovery of expensive battery materials is also part of the plan. Secondly, after their primary usage in EVs, these batteries will be given "second life" by using them in the grid storage system.

In comparison, the new low-cobalt batteries being jointly developed by General Motors Co and LG Chem are not expected to reach those cost levels until 2025, according to a source familiar with the companies' work.

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