Instead of conventional fuels, the world is working on environmentally friendly fuel-powered vehicles and US company Tesla tops the list of making electric cars.
The company is now working on battery technology that will help it develop more affordable vehicles that can travel long distances on a single charge.
Speaking at Tesla’s Battery Day, Elon Musk, the company’s CEO, said the technology could take years to develop.
Earlier on Monday, in various tweets, Elon Musk had said that mass production of Tesla’s new battery technology would not start before 2022.
Speaking on Battery Day on Tuesday, Elon Musk said the technology could take up to three years to become part of a new Tesla car and would be the company’s cheapest car, priced at $25,000.
Currently, Tesla’s cheapest car is the Model 3 sedan, which starts at $35,000.
The new battery technology will deliver 6 times more power, 16 times more range and 5 times more energy than previous batteries.
According to experts, the new battery will significantly reduce the cost of Tesla’s future vehicle while facilitating longer distance travel.
Tesla estimates that this battery will reduce the cost per hour by 14%, while in small cars it will be reduced by 18%.
The new battery will be cobalt-free and is now used for all devices, including mobile phones, laptops and electric vehicles.
Along with the price reduction, Elon Musk claimed that the battery technology company would be able to reduce the size of vehicles by 10% while increasing their range by 56%.
It is estimated that vehicles equipped with these new batteries will be able to travel 500 miles or more on a single edge, and even most petrol-powered vehicles will need to refuel during long distances.
This battery technology will also allow the user to connect their vehicle to the grid, meaning they will be able to use it for various electrical products in their home.
In this way, they will be able to avoid power outages during various disasters such as forest fires in California, while also earning some income by selling electricity.
Elon Musk said his company was one step ahead of others in terms of battery technology but would continue to rely on Panasonic and other suppliers.