Elon Musk implies Tesla must make own battery cells to meet EV demand

Elon Musk feels that unless Tesla makes its own batteries it will have an impact on planned output of its semi truck, Cybertruck pickup and new Roadst
...
Tesla Inc CEO Elon Musk speaks on stage during an event for Tesla's China-made Model 3 cars. (File Photo) (REUTERS)
Tesla Inc CEO Elon Musk speaks on stage during an event for Tesla's China-made Model 3 cars. (File Photo)

Tesla Inc. will need to start producing its own battery cells in order to meet demand for its electric vehicles, even as it ramps up purchases from outside suppliers, Elon Musk said in a tweet.

Musk, Tesla’s chief executive officer, made the comments on the eve of the company’s annual shareholders meeting and “Battery Day" presentation Tuesday, which is expected to showcase innovations designed to maintain Tesla’s lead in electric cars.

Also check these Vehicles

Find more Cars
Tesla Model S (HT Auto photo)
UPCOMING
BatteryCapacity Icon75 kWh Range Icon396 km
₹70 Lakhs - 1 Cr
View Details
Tesla Model 3 (HT Auto photo)
UPCOMING
BatteryCapacity Icon82kWh Range Icon 555 km
₹ 70 - 90 Lakhs
View Details
Mg 4 Ev (HT Auto photo)
UPCOMING
BatteryCapacity Icon64kWh Range Icon350 km
₹ 30 - 32 Lakhs
View Details
Tata Sierra Ev (HT Auto photo)
UPCOMING
BatteryCapacity Icon69 kWh Range Icon420 Km
₹ 25 - 30 Lakhs
View Details
Tata Harrier Ev (HT Auto photo)
UPCOMING
BatteryCapacity Icon50 kWh Range Icon400 Km
₹ 22 - 25 Lakhs
View Details
Honda Elevate Ev (HT Auto photo)
UPCOMING
₹ 18 Lakhs
View Details

Shares of the company fell as much as 8.4% in postmarket trading Monday after closing at $449.39. Musk said what Tesla announces at the event won’t reach high volumes of production until 2022 and will have an impact on planned output of its semi truck, Cybertruck pickup and new Roadster sports car.

Also Read : Elon Musk gets shot to deliver on tantalizing ‘Battery Day’ hints

Tesla’s most longstanding partner on batteries has been Osaka-based Panasonic Corp. The two companies jointly operate a massive battery plant outside of Reno, Nevada: Panasonic makes the cells, and Tesla strings thousands of cells into the massive battery packs for each car. But Musk has never been keen about depending on one supplier, and Tesla does have smaller-scale agreements with Contemporary Amperex Technology Co, or CATL, in China’s Fujian province and LG Chem Ltd in Seoul.

First Published Date: 22 Sep 2020, 09:26 AM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.