“In the future, as EV markets outside China are growing quickly, maintaining and even increasing market share in the global market will rely on how successfully it can secure demand outside China.”.


There, he’s put forward proposals to further focus on renewable energy. Working with a domestic supplier like CATL could further burnish Tesla's relations with China's authorities, which have been key to its local success.

As part of the deal, it is understood that CATL will be instrumental in Tesla’s million mile battery technology which promises to change the face of the transport industry with battery packs that cost just $80/kWh, well under the $100/kWh barrier to bring electric car prices on parity with internal combustion engine vehicles. “That’s probably why Tesla likes us.”. Aligning with Tesla will boost domestic sales, though CATL also needs to secure additional clients to improve its prospects outside China, where LG Chem and Samsung SDI Co., among others, are positioning themselves at a rapid pace. “We won't exclude the possibility to supply its Berlin Gigafactory,” Zeng said in the interview. They include 143 workers with Ph.D.s—who receive such perks as their own canteen and can take advantage of a company-run dating service that took credit for 52 marriages last year. In a nearby lab, batteries are shaken, crushed, immersed in water for 48 hours and placed into boxes heated to 130 degrees Celsius (266 degrees Fahrenheit). “We get along well. The pair trade text messages to discuss prospective innovations in technology, their responses to the challenges wrought by the coronavirus and the Tesla chief’s primary obsession: cheaper batteries and vehicles.“Elon talks about cost all day long, and I told him to be assured that I would have solutions,” Zeng said in an interview at CATL’s headquarters in Ningde, where his 20th-floor office overlooks a fishing hub on China’s southeastern coast now transformed by clusters of battery plants and laboratories. Most importantly, Zeng is expected to supply Tesla with lithium-iron-phosphate (LFP) batteries that use a cheaper mix of raw materials and cost about 20% less to make than other common types of packs, according to BloombergNEF. Debuting at No.

The supplier now sees an advantage in accelerating research on lower battery costs to help electric-powered cars achieve price parity with, and subsequently supplant, gas guzzlers. “Tesla would have a pretty meaningful advantage.”, https://tech.hindustantimes.com/tech/news/the-battery-billionaire-who-s-key-to-tesla-s-future-in-china-71594607355837.html, https://tech.hindustantimes.com/tech/news/analog-devices-near-deal-to-buy-maxim-for-17-billion-71594606900003.html, https://tech.hindustantimes.com/tech/news/tech-wrap-reliance-jio-qualcomm-deal-mozilla-suspends-firefox-send-and-more-71594571660675.html, https://tech.hindustantimes.com/tech/news/reliance-jio-qualcomm-deal-5-things-you-should-know-about-it-71594568289590.html, Elon Musk is now the world’s seventh-richest person, Musk says Tesla is ‘very close’ to developing fully autonomous vehicles, Elon Musk to soon share Neuralink’s progress report. a deal with leading electric car maker Tesla that will drive down the costs of batteries. The deal will likely put considerable pressure on LG Chem in terms of market share, as well as Tesla’s formerly exclusive battery partner, Panasonic.
He’s a fun guy.”. Tesla and CATL—the latter confirmed in a February filing it would become a supplier to the carmaker—declined to disclose precise details, including the types of packs involved. According to the report, a catalogue from the China’s Ministry of Industry and Information Technology (MIIT) on May 15 showed the locally made Model 3 would be powered by LFP batteries. BEIJING (AP) — Jack Ma, founder of e-commerce giant Alibaba, held onto his status as China’s richest tycoon this year as surging demand for online shopping and other services during the coronavirus pandemic swelled the fortunes of internet entrepreneurs, according to a survey released Tuesday. Electric-car sales have declined about 38 percent from a year ago, the China Association of Automobile Manufacturers said July 10, and that risks exposing the country’s multi-billion-dollar EV push as a bubble. Ma, 56, retired as Alibaba chairman last year and also is a shareholder in Ant Group, a payments service spun off from Alibaba.

“What we do is try to bring innovations to the structure and chemical system, which will enable Tesla cars to drive a longer range at a better cost,” said Zeng, leaning against an armchair in a fifth-floor meeting space decorated with a Chinese painting on the wall and a tea set on a table. Here are the latest developments in the battle against the spread of the coronavirus in the Bay Area. At CATL’s forerunner company, Zeng helped Apple deliver long-life batteries for the MacBook Air.

Our new Spectrum News app is the most convenient way to get the stories that matter to you. Even before the new research hub, CATL’s efforts put it among the top tier of the industry, said Hu Feng, a partner at Shenzhen-based Gao Gong Lithium Battery Research Center who has tracked Zeng’s work for almost a decade. A sand model of the planned center sits on the floor by his office door. CATL, which also supplies Volkswagen AG and BMW AG, is building its own facility in central Germany and encouraging China-based suppliers to set up outposts there. Which electric car is the cheapest to run? A report on the China Association of Automobile Manufacturers now also suggests that Tesla could already be ready to start making the “Made-in-China” Model 3 using the low-cost LFP technology (pundits will remember that Tesla lowered the price of the Chinese-made Model 3 in April to bring it within the limits of current Chinese electric vehicle subsidies).

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