Tesla Announces It Will Build A New Cathode Plant. This announcement was made by Elon Musk on the battery day. Before going into the key focus of this article, I want to talk about the company. According to Wikipedia, Tesla is an electric vehicle and clean energy company in America. It is based in Palo Alto, California. Their current products include Battery energy storage from home to grid-scale (Powerwall, Powerpack and Megapack), Electric cars (Model S, Model X, Model 3, and Model Y), Solar products (solar roof tiles and solar panels), and related products and services.
Tesla was founded by Martin Eberhard and Tarpenning as Tesla Motors in July 2003. After 11 years in the market, the company ranked as the world’s best selling plug-in and battery electric passenger car Manufacturer in 2019.
It ranked with a market share of 17% of the plug-in segment and 23% of the battery-electric segment. However, the company’s global vehicle sales Increased 50% from 245,240 units in 2018 to 367,849 units in 2019.
Further, in 2020, the company surpassed the million mark of electric cars produced. Model 3 ranks as the world’s all-time best selling plug-in electric car, with over 500,000 delivered. Thus, Tesla cars accounted for 81 percent of the battery electric vehicles sold in the US in the first half of 2020.
However, in the recently concluded battery day, the company announced it will produce a new cathode plant. To get the news in detail from the Verge website, read the section below.
Tesla Announces It Will Build A New Cathode Plant
According to The Verge, Elon Musk who is the CEO of Tesla made an announcement on the company’s plan to develop a new cathode plant.
The CEO Elon Musk said at the company’s battery event “ Tesla plans to build in a new cathode plant for its batteries in North America, to help reduce supply chain cost and simplify cathode production.
Musk said that the current process is not efficient, and it’s making improvements to the process that will make cathodes 76 percent cheaper, and to also produce wastewater. Thus, the new process will take away lots of the intermediate steps involved in cathode uses, because of low nickel supply.
When And Where Cathode Plant Will Be Built
The CEO Elon Musk did not give a specific time and where the new plant would be built. Though he said at the beginning of his presentation that he wanted a Gigafactory on every continent.
In July the company said it was building it’s next US factory in Austin, Texas, and Musk said he will consider runner up city Tulsa, Oklahoma for future projects.