Tesla has a secret Lithium-ion battery lab

According to a recent CNBC article,Tesla has a secret lab trying to build its own battery cells to reduce dependence on Panasonic

 

  • Tesla is developing the means to manufacture its own battery cells
  • The main cost component of an EV is its battery pack and battery cells, according to research by IHS Markit.
  • Since 2014, Tesla has mostly relied on its partner Panasonic to produce battery cells for its vehicles and clean energy products.

 

At the company’s annual shareholder meeting in June, Elon Musk encouraged outside investors to focus on two strategic matters at Tesla: 

 

How quickly the company can offer completely self-driving vehicles, and its plan to scale battery production and get the cost per kilowatt hour lower.”

 

 He said Tesla wasn’t ready to let the “cat out of the bag” yet and would reveal further details — including about the company’s acquisition of Maxwell Technologies, completed in May this year — at an investor battery and powertrain day before the end of 2019.

 

 

Li-ion batteries are being used in many applications from Electric Vehicles, mobile phones, Laptops, digital cameras, power tools, Energy storage systems and many more.

 

 

The Global lithium-ion battery market was valued at $30,186.8 million in 2017 with projections to grow at a CAGR of 17.1% from 2018 to 2025 reaching $100,433.7. Lithium-ion (Li-ion) batteries are rechargeable batteries with high-energy density and is used predominantly in portable equipment. Exponential growth in use of these batteries is expected due to the increase in use in smartphones, tablets/PCs, digital cameras, and power tools with further demand for Li-ion batteries driven by the automobile industry. The demand for electric vehicles is expected to drive the demand for Li-ion batteries. Many automobile companies are investing in new factories for electric vehicles that will use Li-ion batteries due to the small size, lightweight and energy density compared to alternatives like nickel metal hydride batteries.

 

 

How to invest in this sector?

Our in-depth review of the Global X Battery and Lithium ETF in the video below.

 

 

 

Please leave your questions and comments below:

 

What is Intermittent Fasting and what the the benefits?