Tesla Battery Cost To Drop By Double Digit Percent

Tesla Inc and Contemporary Amperex Technology Co Ltd (CATL) are in talks to use batteries from Contemporary Amperex Technology Co Ltd (CATL) that has no cobalt in it.

Cobalt is a chemical element with the symbol Co and atomic number 27. Like nickel, cobalt is found in the Earth’s crust only in chemically combined form, save for small deposits found in alloys of natural meteoric iron. Cobalt is a mineral essential to the rechargeable lithium-ion batteries that power smartphones, laptops and electric vehicles made by companies such as Apple, Samsung andTesla. Colbalt is one of the most expensive metals in electric vehicle (EV) batteries.

The main use of cobalt is for lithium batteries. One of the cores of lithium-ion batteries is its cathode material, which uses lithium cobalt oxide (LiCoO2). Lithium cobaltate is a solid electrolyte with high energy density and high environmental protection. safety. The advantages of lithium batteries are wide voltage range, high energy density, and environmental protection (compared to Ni-Cd and Ni-Mn).

According to Reuters, Tesla has been talking to the Chinese manufacturer for more than a year to supply LFP batteries that will be cheaper than its existing batteries by a “double-digit percent,” said a person directly involved in the matter, who was not authorised to speak with media and so declined to be identified.

The use of LFP batteries will also help Chief Executive Elon Musk meet a 2018 promise that Tesla would cut the use of cobalt – which costs some $33,500 a tonne – to “almost nothing”.

Tesla plans to host a battery event, probably in April, to share its future battery strategy and technology, Musk said at an earnings conference in January.

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