Month of June has become a really important to Tesla since in the stock markets it hits the total capitalization up to 185 billion with a stock price of 1000 per share. With this in handy Tesla became the most valuable Car Company in the world. This significant event put Tesla on the high end of the motor company showdown by passing Toyota on its way singlehandedly and in combining Ford ,GM and Fiat.
Even though the records were held high within days Toyota is back on the leading position. But the fact Tesla came on 1st even for a short period of time within a short space of time is significantly attracting in the motor car world. Elon’s Tesla has may have many reasons heaving in this position but most clear reason may be the million mile battery they introduces the company’s annual battery day.
A Chinese company CATL announced that they are ready for manufacturing a battery capable of running 1.2 million miles without charging and they failed to mention Tesla is the company that they are making these batteries.
Why EVs run high in prices is the battery manufacturing and its magic barrier of $ 100 per KwH range, below these barrier electrical cars expected become cheaper and more affordable than internal combustion engine cars. What the EV batteries runs so high they included cobalt in them and its being one of the rarest earth metals to mine it. Republic of Congo has the world’s largest cobalt reserves and the sad factor is child labor is used to mine it, are the problematic issues.
Cutting out Cobolt is going to reduce battery prices dramatically and Tesla has finalized Chinese governmental approval to make a Lithium iron phosphate batteries which is made without Cobolt and can be 10 times recharged than preview Lithium iron batteries. But on the downside it can store 40% less energy than Lithium iron batteries in that cases the cars are going to be heavier and or with short drive ranges even though the car prices are cheaper.
BMW and MERCEDEZ is still shoehorning the electrical drivetrains in cars to get the perfect looks still which is not good sign for its future and even though BMW showed promises with I3 and I8 but still focusing on plug in hybrids PHEVs. Tesla went way around by building the car around the electronics drivertrains and the batteries given enough space rather than shoe horning the parts in a shape.
So how did Tesla made the top place eve for few days with a short pace of time, since they made an early bet on EV and its innovation towards future of EVs Tesla was the first in making lithium iron bat tires for cars and it’s the first to stop using Lithium iron and moving forward with lithium iron phosphate batteries by not using cobolt.