The biggest item the company sells is the lithium-ion battery that powers Tesla’s cars.
That battery costs around $4,500 to $6,000, depending on its size.
It’s a pretty expensive item.
Why is that?
It is one of the components that allows Tesla to generate electricity without using a fuel.
While gasoline is currently the most common form of renewable energy, the market for clean energy continues to grow.
The energy needed to produce an electric car requires less coal and carbon emissions.
There are three main reasons why consumers are gravitating towards electric vehicles:
They can drive farther for less money.
A few things make this possible.
Firstly, electric cars run on batteries that are much more efficient than gasoline engines.
More importantly, battery prices continue to drop.
A pack of batteries only costs about $350 to $450.
This means a $10,000 electric car will produce around 90% of its electricity cost.
A comparable gasoline-powered car will produce roughly 60% of its electricity cost.
In comparison, $30,000 for Tesla’s Model S costs around $60,000 to $80,000.
How good are their batteries?
According to the European Union, lithium-ion batteries are a very good option for electric cars.
They charge at a steady 70-80% of their own capacity, which is higher than most gasoline engines.
They can store more energy than traditional gas-powered engines, meaning their batteries can still be used even if there is a lot of juice left in the tank.
The problem with lithium-ion batteries is that they can leak more energy than traditional batteries, causing a higher rate of fire.
Here’s a video we put together showing the battery degradation of a Tesla Model X:
You can check the battery data from the Tesla website.
In a short time, Elon Musk’s company has become the world’s most valuable automaker.
It has the financial power to do everything it needs to do, from getting more production out of the factory to building mass-production factories.
It has the ability to get loans and buy shares in companies (including other automakers).
Musk has proven he has the business acumen, as he demonstrated with the company’s second-quarter guidance.
The company has the experience.
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