New Tesla Batteries Make EVs Cheaper Than Gas Cars
Currently, a brand new Model S will cost you $74,990 and a Model X $79,990. It's safe to say that these electric vehicles are much more expensive than their combustion equivalent. As such, it's no wonder why many are opting out of EVs and for combustion vehicles, they're just more expensive. However, a new leak may change all of this.
In a report by Reuters, Tesla, the electric vehicle industry dominant, has come up with a new cheaper battery with the help of Contemporary Amperex Technology, a Chinese battery manufacturer, that significantly brings down the price of their vehicles.
The new battery will be much denser and cheaper to build but smaller with an astonishing lifetime of 1 million miles. Because of this lower-priced battery that offers the same lifetime, the vehicle becomes cheaper as well, which substantially appeals to buyers.
It comes from the battery not using cobalt, which is the most expensive part of modern car batteries. Ultimately, this brings the cost of the battery to $100 kWh which is cheaper than a normal combustion car in gas price terms.
Sreenidh is currently a high school student attending school in Southern California. As an aspiring engineering and entrepreneur, he hopes to change the world at the intersection of environmental science and automotive technology. He also has a strong passion for journalism, and enjoys writing articles for numerous different outlets. In his free time, he loves to learn about upcoming cars, work on his personal blog, and watch Disney+.