As fitting an automotive product launch in the middle of a pandemic, Elon spoke in front of a movie screen to a throng of Teslas (Tesli?) at a Drive-in movie. Instead of applauding, people honked their horns.
Battery day was not filled with sexy announcements. Most of the products announced are in the pipeline and won't be seen for another 3 years or so. But the announcements point to the long-term viability of Tesla.
- 'Tesla will produce its own batteries in-house using a 'Tabless Battery' technology that will make batteries 6 times more powerful and increase range by 15%.
- Tesla will also have its own Cathode plant, which is said to reduce costs by 76%. It also plans to eliminate the use of cobalt in cathodes.
- Tesla Model S Plaid Edition: $142,000. 0-60 in <2 seconds. Standing ¼ mile in <10 seconds. Over 500 miles of range.
When you consider that the electric automobile industry is in its infancy, the amount of technological progress that will take place in this decade will really start to move the cost/performance benefit towards electric cars. Tesla is taking huge strides in reducing costs, from more efficient production techniques (the largest stamping machine in the world) to the design and manufacture of battery components in-house, reducing costs and streamlining the supply chain. By the year 2030 technology should enable the production of a $25,000 electric car with great performance and good range. I know Musk can be opinionated and arrogant, but he could end up being the most important person in automotive history since Henry Ford.