Tesla promises to reduce the cost of its batteries by 50%

Tesla promises to reduce battery costs by 50%. The current cost of its batteries is estimated to be

about $130 per kilowatt-hour.Such a reduction will mean overcoming the critical threshold of $100 per kilowatt-hour - beyond which electric cars reach price parity, and then become cheaper than cars with internal combustion engines, Bloomberg noted.

To fully implement the new technology,the company will take from 1 to 1.5 years. After the full launch of the technology, Tesla will be able to sell an electric car for about $ 25,000. This cost corresponds to the average price of a gasoline car in the United States, the company explained.

The company proceeds to manufacture its ownbattery cells in a new larger form factor (4860). The new elements will provide greater compactness, increased energy density and better cooling. The company is now buying lithium-ion cells from Panasonic and this partnership will continue for the foreseeable future.

Elon Musk also said that from the third quarter2019 Tesla has shown profitability for four consecutive quarters. According to him, unlike most automakers in the world, the company has a positive growth rate. In 2019, the figure was 50%.

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