Elon Musk has announced ambitious plans to make Tesla batteries that can live second and even third lives as they survive for a million miles. The mercurial billionaire has also announced plans to convert Tesla's “megafactories” into “terafactories” that are 30 times larger. And all of this is in service of Musk’s goals to turn Tesla into a power provider to compete with existing electric utilities.
By planning for this long life with second or third or even more subsequent phases, Musk hopes to bring the cost of Tesla vehicles down. That’s on top of the natural price drop from advancing technology: Forbes reported earlier this year that the cost of battery cells in a Tesla car has “declined from $16k in 2016 to about $9k in 2019.”
Tesla’s new batteries will rely on innovations such as low-cobalt and cobalt-free battery chemistries, and the use of chemical additives, materials and coatings that will reduce internal stress and enable batteries to store more energy for longer periods, sources said.
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