Tesla will simplify the process of obtaining battery-ready nickel and lithium, develop alternatives to existing aluminium alloys and recycle its own EV batteries, it added.
Tesla’s own 4680 lithium-ion cell is “close to working”, chief executive officer Elon Musk said during Battery Day, a socially-distanced event held outside the company’s vehicle factory in Fremont, in the US state of California.
Tesla promises a 56% reduction in the cost of its EV battery cells today, coupled with performance improvements.
“We think it will take us a year to 18 months to start realizing these advantages, and probably about three years to fully realize these advantages,” Musk said.
Tesla will continue to buy batteries to supplement its forthcoming battery, which is expected to add 16% more...