Electric car: cheaper and more powerful version of Tesla “in three years”

Elon Musk, founder of Tesla Electric Vehicle Company, has unveiled a technology that will make its car batteries cheaper and more powerful.

During a presentation entitled “Battery Day,” he pointed out that a fully self-driving Tesla could be provided for $ 25,000 “within three years.”

He added, “Our dream has always been to provide cheap electric cars.”

However, Musk’s comments did not arouse the enthusiasm of investors in the financial markets, as the market value of Tesla fell by 50 billion dollars.

The main topic of Tesla’s founder’s presentation was the announcement of larger cylindrical cells. And it was reported among those interested in the sector that the new batteries will provide five times the energy provided by the existing batteries, in addition to increasing the distance traveled by the car with a single charge of the battery by 16%.

However, it is likely that this technology will not be demonstrated for years.

Tesla adopts the method of integrating the battery into the car so that it is an essential part of it, thus reducing the total weight of the car.

The company’s founder spoke with the presence of 240 Tesla shareholders, each of whom was seated inside a Tesla 3.

Technological innovations are the main component of Tesla’s design of car batteries, which leads to vast improvement in their efficiency.

Stanley Tingham, a Nobel Prize winner in chemistry last year for his efforts to develop lithium batteries, told the BBC that “pursuing all available opportunities is risky, but at the same time generates high returns.”

He added, “Many of us suggested the same necessary steps, but Tesla has the investment and the will to achieve that. I don’t think anyone else will do the same.”

Musk announced that his leading company in the electric vehicle industry will not only buy batteries from Panasonic and LG Chem, but will start manufacturing them as well.

And last April, Elon Musk announced that the company was having difficulty supplying batteries from Panasonic for its Tesla 3 cars.

One technology expert described expanding the scope of work in the battery industry as “very challenging”.

“Even with the most experienced automobile manufacturer, we see a high rate of materials wasted during production in the first years of operation,” said Casper Rollies, head of price assessments at market research firm Benchmark Mineral Intelligence.

Rolls warned that most battery components are made of more expensive metals, so “you can keep the cost, but within limits.”

The growth achieved in the past four quarters helped to skyrocket Tesla’s shares, helping the company to be the largest car manufacturer in the world in terms of market capitalization.

This success has been achieved despite the criticism that Musk faces, which emphasizes that the technological innovation he seeks to achieve is overblown.

The Castmer Report, a consumer rights group, released a research paper condemning Tesla’s self-driving cars. “Until now, fully autonomous driving ability is a misnomer,” the paper said on this type of car.

And Musk announced in July that Tesla would be able to manufacture a fully self-driving car by the end of this year, which was questioned by observers from within the auto sector.

Despite this, the Tesla chief announced that a “trial” version of the fully autonomous car operating software would be ready “in about a month”.

It is not surprising that Musk made surprising strange statements.

And earlier this month, the US billionaire unveiled the implantation of a coin-sized computer chip in the brain of a pig as part of an ambitious plan to develop a technological interface that relies on the connection between the brain and the computer.

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