Elon Musk has revealed a few very interesting details about Tesla Model 3, upcoming Gigafactories and the future for lithium batteries during Tesla Motors, Inc. Second Quater 2017 Financial Results Q&A conference call. Among many other important topics, Elon Musk is answering all those questions about battery breakthrough "de jour".
You can listen to the call here.
The following extracts are from Seeking Alpha transcript:
"Elon Reeve Musk - Tesla, Inc.
Okay. Here's my opinion. The battery breakthrough of the week, battery breakthrough du jour. When somebody has like some great claim that they've got this awesome battery, you know what, send us a sample. Or if you don't trust us, send it to an independent lab, where the parameters can be verified. Otherwise, STF.
Yes. So everything works on PowerPoint. You know, I could give you a PowerPoint presentation about teleportation to the Andromeda Galaxy. That doesn't mean it works. So Tesla is the biggest buyer of lithium ion batteries on earth. You know who people come to first when they've got a lithium ion battery? Us, because we're their biggest customer.
I would love it if we could have some breakthrough. It'd be awesome. I think there are some interesting things on the horizon. But then the time it takes from something working in the lab to working at moderate production levels to working at higher production levels to optimizing the cost is several years. So it's not like it suddenly pops out of nowhere. JB, do you want to add to that?
Jeffrey B. Straubel - Tesla, Inc.
No. I totally agree with the sort of cautious skepticism on all these announcements. And just more specifically on the solid-state batteries, Rod. I mean, we've talked to a number of different groups that are researching this. We actually have tested a number of those different prototypes, very early prototypes, single cells, but we don't yet see anything that changes our strategy, and we don't see anything there that's ...
Elon Reeve Musk - Tesla, Inc.
Although we'd love it if it did. Please. Please. If someone please come up with a battery (37:43) breakthrough, we'd love it.
Jeffrey B. Straubel - Tesla, Inc.
We would be the first ones to want to implement it.
Elon Reeve Musk - Tesla, Inc.
Yes. Totally. I mean, there are some breakthroughs that I think are achievable. They're confidential, so I can't talk about them on this call, but there's one particular avenue that I'm confident could be made to work. That would be fairly – the most significant one breakthrough in a while.
But, again, you got to make it work in the lab. It doesn't yet work in the lab, it's promising in the lab, a year from the lab to small production. Then you go to large production then you get to cost optimization, these are several years, okay? I wish it were shorter. That's the way it goes. Sorry about that. Yes. So was there ..."
Energy rEVolution: All Cars Will Be Electric - Lithium Battery Prices Will Drop Another 75% By 2030.
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"Mass production of lithium batteries brings the Holy Grail to electric cars - the cost of batteries is fast approaching the magic $100 per kWh. The auto industry and corrupted politicians are still fighting unavoidable: Elon Musk was talking one year ago about the all-in cost for his lithium batteries at $190 per kWh. Now there are reports already that Gigafactory allows for Tesla to go below $150 per kWh. There is a claim in a new promotional video that Tesla will achieve 35% cost reduction for lithium batteries produced at Gigafactory, according to ElecTrek, it can be as low as $124 per kWh!We are talking here about the magical 20/200 when $20,000 buys you an electric car with a better performance than BMW 2 and range over 200 miles. It means that not only the cost of ownership for EV is lower than a comparable ICE car, but a beautiful electric car is cheaper and better than anything ICE can offer. We are talking here about all cars being electric much faster than you think." Read more.
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