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.
Earlier, Musk said Tesla’s Model Y is expected to be the world’s best-selling car worldwide by 2023.
Other articles in the category: Tesla
Tesla Model X Seat Belt Issue Sees Preliminary Investigation by NHTSA
The National Highway Traffic Safety Administration (NHTSA) has opened a probe into 50,000 Tesla Model X units, following two reports of front seatbelt issues, according to Reuters. The initial investigation of the issue applies only to Model X units with the 2022-2023 model years, with an issue that causes the front seatbelt to become disengaged […]
Tesla Cybertruck Spotted Testing 4-Wheel Steering in the Wild [VIDEO]
A Tesla Cybertruck was spotted in the wild, appearing to test the electric truck’s steering around streets of Palo Alto, California, as captured and shared by none other than @The Kilowatts on Monday. The Cybertruck can be seen making quick turns and unique steering maneuvers, including what looks like four-wheel turning at around the 0:02 […]
Tesla’s Referral Program is Back in Europe
Tesla has reintroduced its Referral Credits program in Europe, offering free Supercharging and more for referring and being referred for the sale of its vehicles, as @Tesla_Adri pointed out on Monday. Tesla_Adri also shared photos of the app showing the referral program, which offers up to 2,000 credits on referrals of any vehicle in the […]