Connect with us


The company that makes Tesla’s batteries is working on a million-mile battery

This could help reduce the cost of owning an electric vehicle.

Tesla model 3 on road
Image: Unsplash

The battery maker that supplies Tesla and Volkswagen has hit a huge mileage milestone with its latest battery – that of one million miles. Contemporary Amperex Technology Co (CATL) has told Bloomberg that the company has a million-mile, 16-year battery that is ready for production at this time.

That’s likely the same battery that Tesla was reportedly working on with CATL back in May, although that’s not confirmed at this time. According to CATL’s Chairman, Zeng Yuqun, the battery costs about 10-percent more than the average battery for an electric vehicle (EV).

Still, that extra initial cost will likely work out as a cheaper cost of ownership for equipped EVs, as the battery lasts longer. Compare that with warranties on existing EV batteries that cover them for 150,000 miles or eight years, and you can see why the extra cost is warranted for the owner. They could even be transferred into a new car, significantly lowering the price of purchasing a new vehicle.

That increased cost might not be long term either, as earlier reporting by Reuters said that subsequent versions of the million-mile battery would be substantially cheaper, bringing EV costs down to those of gasoline-powered vehicles. If so, that could seal Tesla’s future as the higher cost is one of the reasons putting off potential owners.

What do you think? Happy to see improvement coming to the batteries of electric vehicles? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

Editors’ Recommendations:

Follow us on Flipboard, Google News, or Apple News

Maker, meme-r, and unabashed geek with nearly half a decade of blogging experience. If it runs on electricity (or even if it doesn't), Joe probably has one around his office somewhere. His hobbies include photography, animation, and hoarding Reddit gold.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Deals of the Day

  1. Paramount+: Live Sports Starting at $2.50/mo. for 12 Mos. Sports - Try It Free w/ code: SPORTS
  2. Save $20 on a Microsoft365 subscription at Best Buy with a Best Buy Membership!
  3. Try Apple TV+ for FREE and watch all the Apple Originals
  4. Save $300 on a Segway at Best Buy, now $699

More in News