Tesla supplier develops battery that will last for 16 years and a MILLION miles in breakthrough that could transform electric vehicle market
- Tesla supplier said it has a rechargeable battery that could transform the market
- The battery will last 16 years or 1.24 million miles before needing to be replaced
- Tesla is set to release the technology later this year or early next year
- The supplier noted that the battery will be 10% more than the current models
Tesla has dominated the electric vehicle market for years and a new breakthrough could ensure it reigns supreme.
The firm’s battery supplier, Contemporary Amperex Technology, told Bloomberg that it is ready to produce rechargeable battery that lasts for 16 years or 1.24 million miles before it would need to be replaced.
The China-based company said orders are ready to be filled, but added that the battery will cost 10 percent more than those currently on the market.
News about the secret ‘million-mile battery first surfaced last month by sources that said Tesla would launch the new technology in China in a bid to reposition itself.
Scroll down for video
Contemporary Amperex Technology was given a two-year contract in February with Tesla, which will make batteries for the Model 3 sedan (pictured) that are being produced in Tesla’s new factory outside of Shanghai
Sources first revealed last month that Tesla was working on a one million mile battery that ‘rely on innovations such as low-cobalt and cobalt-free battery chemistries, and the use of chemical additives, materials and coatings that will reduce internal stress and enable batteries to store more energy for longer periods.’
Bloomberg spoke with Contemporary Amperex Technology (CATL) Chairman Zeng Yuqun who said they are ready to start fulfill orders, but did not reveal if they had any customers as of yet.
However, Ygun seemed to have a positive outlook on the industry, which was hit by the coronavirus pandemic.
‘The pandemic may have a lasting effect throughout 2020, but won’t be a major factor next year,’ Zeng said. ‘We have great confidence for the long run.’
The firm’s battery supplier, Contemporary Amperex Technology, told Bloomberg that it is ready to produce rechargeable battery that lasts for 16 years or 1.24 million miles before it would need to be replaced. Pictured are different batteries made by the firm
Contemporary Amperex Technology was given a two-year contract in February with Tesla, which will make batteries for the Model 3 sedan that are being produced in Tesla’s new factory outside of Shanghai.
In May, Reuters was the first to report on the one million-mile battery, saying the variant would also go in the Model 3 Sedan later this year or early next.
With a global fleet of more than 1 million electric vehicles that are capable of connecting to and sharing power with the grid, Tesla’s goal is to achieve the status of a power company, competing with such traditional energy providers as Pacific Gas & Electric and Tokyo Electric Power sources told Reuters.
Tesla’s new batteries will rely on innovations such as low-cobalt and cobalt-free battery chemistries, and the use of chemical additives, materials and coatings that will reduce internal stress and enable batteries to store more energy for longer periods, sources said.
News about the secret ‘million-mile battery first surfaced last month by sources that said Tesla would launch the new technology in China in a bid to reposition itself
The sources said CATL also plans to supply Tesla in China next year with an improved long-life nickel-manganese-cobalt (NMC) battery whose cathode is 50 percent nickel and only 20 percent cobalt.
‘We’ve got to really make sure we get a very steep ramp in battery production and continue to improve the cost per kilowatt-hour of the batteries — this is very fundamental and extremely difficult,’ Musk told investors in January.
‘We’ve got to scale battery production to crazy levels that people cannot even fathom today.’
Source: Read Full Article