TESLA’S ROADMAP TO A RENEWABLE ENERGY ECONOMY: INSIGHTS FROM INVESTOR DAY
Tesla’s recent Investor Day and Battery Day presentations highlighted the company’s commitment to transitioning the world to a sustainable energy economy. The expanded Master Plan 3 aims to create a renewable energy economy using storage, renewable power, and manufacturing expense. Tesla estimates that achieving this goal will require 240 TWh of storage, 30 TW of new solar/wind, and about $10T.
Elon Musk outlined an ambitious plan for global decarbonization, emphasizing the role that batteries and electric vehicles can play in making this transition possible. Tesla’s next-generation vehicles and radically reinvented assembly process were also showcased, positioning the company well in the race for electrification.
In terms of reducing the cost of producing electric vehicles, Tesla plans to produce its own batteries and reduce the cost by as much as 56 percent. The company’s new battery design, which incorporates a tabless electrode, will increase energy density by up to 5 times and reduce the cost of manufacturing by up to 14 percent.
Tesla is also working on electrifying high-temperature industrial processes and reducing the total cost of ownership of electric vehicles. The company aims to reduce the cost of its next-gen vehicle by 50 percent compared to the Model 3.
Overall, Tesla’s presentations demonstrated the company’s commitment to driving innovation and cost reduction to make sustainable energy and electric vehicles more accessible to consumers. The focus on reducing costs throughout the supply chain and improving end-use efficiency will enable exponential growth in volume, making a sustainable energy economy within reach.