You know that long-talked about consumer-priced electric vehicle from Tesla? The under $30,000 sedan that has been promised? There finally seems to be some news on that front, and more importantly how it will keep to that promised price-point.
According to the company, their growth has been inhibited by a battery shortage. The solution, is to create their own electric vehicle battery factory in the American Southwest (as yet unspecified), for the modest sum of $5 billion. It will employ 6,500 workers.
With the new facility, Musk (pictured above in an ‘Occupy Mars’ shirt) feels confident their promised car will be on the market in under three years. The main reason electric vehicles still fail to be embraced fully by the public is the lofty costs, and creating batteries domestically should alleviate that. Not to mention, whatever tweaks Musk comes up with.
Musk has already started using Tesla batteries in his other venture SolarCity, of which he is the chair. The batteries are used to store energy collected by customers’ solar arrays, to be later used at night.
On the other side of the world, LG Chem’s CEO has tentative plans to build an EV battery factory near Beijing, hoping that by making the vehicles more affordable (by way of cheaper batteries), they will be driven in lieu of fossil-fuel emitting vehicles, which have cast the grey smog over that city. The company, which has only ever produced small scale batteries for their handheld phones and tablets, is looking to scale that technology up to automobile sized.