Cheap electric batteries ‘three years away’, according to Tesla

CEO of Tesla, Elon Musk, has offered an update on the company’s technology during the firm’s “Battery Day” event.

Musk claimed the firm was already producing the battery cell, called the 4680, at its California gigafactory and it would reduce the overall cost of batteries – creating a lower sales price for its EVs and cost-parity with petrol and diesel vehicles.

The so-called ‘tabless’ technology means six times more and a a 16% increase in the range of vehicles. Tesla used the foils of traditional batteries and then created a laser pattern to form connections in the material. The technology is easier to manufacturer, requires fewer parts and has a shorter electrical path length which allowed for a better power to weight ration than cells with tabs.

Musk also announced plans to produce 20m EVs per year with a low-cost Tesla model that is fully self-driving for £20,000 as well as a new Tesla S ‘Plaid’.

But investors had expected him to announce a ‘million mile’ battery and also calculations that would illustrate an electric vehicle was better value per mile than a petrol and diesel vehicle.

Sign up for our essential
newsletter service.

Enter your details here.