Electric cars are facing a renaissance. From Elon Musk reopening their Fremont Facility without government consent, to taking a hard hit due to the COVID-19 pandemic. Well, Tesla is now putting itself ahead of itself and developing battery technology that would put electric vehicles in the same price league as traditional ICE’s.
Tesla Has Plans To Make Its Cars More Affordable
One of the most expensive parts of any electric car is the battery. The battery utilizes many components (some of them substantially rarer than others). These components continue to add to the overall cost of owning one.
Well, now Tesla is looking to change the game that they, themselves, developed.
With their Model 3 taking a massive hit in sales for the Chinese market (again COVID-19 related) the company looks to expand how it develops effective EV strategies.
Electric Cars Are Expensive.
What you save in terms of the cost of gas, you spend on the price of an EV. Typically most people who look into the new car market find the price tag to be a bit daunting. For the same price, you can have a nice luxury Porsche or BMW. Now, the Model 3 can relatively compete in those markets, but the focus is on the reliance on fossil fuels.
The major cost of the battery comes from cobalt. This material is the most expensive factor in lithium-ion batteries. Well if you remove that, you can remove the large bulk of the overall cost for new vehicles. That is what the EV pioneer looks to do.
Electric Cars Meet The Common People
Much akin to how Ford revolutionized the automotive industry, Tesla looks to do the same. Each automotive manufacturing company has kept the framework of what Ford had done.
Ford, back in the early 1900’s developed a factory line to build cars. This helped roll them out faster, increase production and keep the average cost of their vehicles low. This worked so well that they became the greatest car company in history. This allowed most citizens to be able to afford a car and was groundbreaking.
Now, the new millennium has come and the factory line still exists. Unfortunately, its not the cost of manual labor that makes the vehicles so expensive but the components within the car that make it cost so much.
These first modes will be rolled out in China and will move to America once all components register accordingly.