Tesla seeks big cost reductions in its gigafactory in China

Tesla could make big cost reductions at its Chinese gigafactor, according to Reuters, who have reported that Tesla and Chinese battery manufacturer CATL are in an advanced stage of negotiations. Once the collaboration is established, Tesla will have the opportunity to use cobalt-free batteries in vehicles manufactured in China. Cobalt is one of the most expensive components of batteries.

Tesla is in advanced stages of talks to use batteries from CATL that contain no cobalt – one of the most expensive metals in electric vehicle (EV) batteries – but so-called lithium iron phosphate batteries in cars made at its China plant, according to Reuters.

Tesla Inc and Contemporary Amperex Technology Co Ltd (CATL) declined to comment.


Source: portfolio.hu