Tesla electric cars can be significantly cheaper

Tesla electric cars can be significantly cheaper

February 20, 2020 0 By autotimesnews

The American company Tesla decided to abandon the use of expensive cobalt when creating batteries, which will significantly reduce the cost of electric vehicles.

It is reported by Reuters. Previously, the company used this approach only to create industrial batteries.

Thanks to the decision of the head of Tesla, Elon Mask, the manufacturer will switch to the use of lithium-iron-phosphate batteries (LFP) instead of the current nickel-magnesium-cobalt (NMC). Until recently, it was believed that LFP power sources are characterized by lower electrical capacities, which is why they were less popular in the automotive industry than NMC elements.

At the same time, the Chinese company CATL has been developing a project for a long time that would improve the capacity and safety of batteries that do not have expensive cobalt. The use of LFP batteries will allow Tesla to reduce the use of cobalt to “almost zero”, since now the cost of one of the most expensive battery components is almost $ 35.5 thousand per ton.

According to preliminary information, negotiations with CATL reached the final stage. So, if this agreement is reached, then the cost of the battery may decrease by “an ambiguous percentage,” the publication notes.

Thus, if the Mask manages to abandon the use of cobalt, this will allow him to significantly reduce the cost of electric cars, while maintaining the profitability of cars.