Tesla accelerates its renewable energy transition by decreasing battery costs

Amidst the ongoing COVID-19 global pandemic that continues to cause havoc worldwide, the transportation industry still develops car technologies to attain a zero-emission economy because the sector is a significant carbon emitter. When it comes to electric vehicles’ development, big corporations’ big names never miss out on a list, among them, Tesla Incorporation. Tesla is clean energy cooperation that manufactures electric vehicles based in Palo Alto, California, in the United States. 

Recently, Tesla announced that the company reduced its electric battery’s production costs, accelerating the global transition to renewables from fossil fuel. Elon Musk, the Chief Executive of Tesla, said that the company continues to develop new technology for its batteries to manufacture sleeker and more affordable electric vehicles that travel longer distances using a single battery charge. With the latest battery technology, Tesla plans to release a self-driving car model that costs $25,000 in the next three years. A power team at Tesla laid out the new design of the battery, its materials, and an innovative production process that reduces 56 percent of every kilowatt-hour cost. 

Musk said that the company decided to manufacture and install lithium-ion batteries in every electric vehicle because the market demand desperately requires its supply at an affordable cost. However, Tesla’s shares dropped by nearly six percent during its after-market trades because investors realized that the path ahead is not as they thought before. On his Twitter handle, Musk posted that the announcements made on Battery Day are unthinkable but continue to drive the company towards its customers’ high expectations. 

Drew Baglino, the senior deputy director of energy engineering in Tesla, made a presentation with Elon Musk. The two laid out the technical details of the company’s battery manufacture technology. Baglino explained from its design that the raw materials to the production of dead cells are installed in every electric car’s architecture. The revolutionary car battery technology aims to develop batteries that pack massive energy with a lower cost of production and long-lasting battery life. Many electric vehicle drivers anticipated introducing the transformative battery after several years, but Tesla already uses the technology at its factories. 

Karl Brauer, the executive analyst at iSeeCars, said that the new battery technology is not one big thing but many little enhancements. He explained that every development contributes to a faster battery design to manufacture with less production cost and deliver a more extended range for electric vehicles. In summary, the battery’s innovative modifications consist of using a lot of silicon instead of other costly material and integrating the battery into the car structure.