During Tesla’s 2021 shareholder meeting, CEO Elon Musk said Tesla is purchasing a lot of battery cells from suppliers at mass scale, as the company tries to keep up with customer demand.
“We need a lot of batteries”, reads Tesla’s slide deck on the matter. Tesla says it “accounted for 0.7% of car sales but bought 26% of all cells used by autos industry in 2020.”
Tesla is planning an ongoing focus on cost reduction, noting it is seeing a reduction in average selling price but gross margins are increasing.
The company also detailed its 5-step plan to “dramatically reduce cost” of battery packs and capital expenditures. The cost of its battery packs have been cut by 50%, while capex has been reduced by two-thirds.
Tesla is rolling out a new entry-level Model Y variant in Europe, and it’s a bit of a surprise. Dubbed the Model Y Standard Long Range RWD, the new configuration delivers significantly more driving range than the existing base model, while still undercutting other trims on price. According to Tesla Europe, the Model Y Standard […]
Tesla has quietly added a new entry-level Model Y to its Canadian lineup, giving buyers north of the border a cheaper way into the company’s best-selling electric SUV — and, interestingly, one that undercuts U.S. pricing. As first reported by iPhone in Canada, the Model Y Standard Rear-Wheel Drive has now appeared on Tesla’s Canadian […]
Tesla’s long-rumored Cybercab appears to be taking another major step toward launch. The company’s purpose-built autonomous vehicle was spotted testing on a highway in Austin, Texas, this week — marking what looks to be the first time the Cybercab has been seen validating its capabilities at highway speeds. Footage shared by Adan Guajardo (@AdanGuajardo) shows […]
