Tesla's mission is to accelerate the world's transition to sustainable energy--and not just through its cars. “The three elements needed for a sustainable energy future are sustainable energy generation, energy storage, and sustainable transport, electric cars,” said Elon Musk during his recent visit to Germany.
All three elements of a sustainable future are directly dependent on batteries. This is why Tesla is so keen to develop its own battery cells that will be produced faster, have a lower cost, and a higher capacity.
Essentially, the battery is the foundation of Tesla's entire business. It should be noted that the battery will be the basis not only for Tesla but also an important element for The Boring Company and even settlements on Mars. @jeffgeorgeATL/Twitter made a graph that demonstrates how this works.
The highly anticipated Battery Day will take place on September 22nd, where Tesla is expected to showcase its plans to increase battery capacity and improve cell chemistry and performance--all while driving down costs. This means more production and better products at lower cost. The impact over time should be massive.
I don’t really care about the short term $TSLA ⬆️⬇️ after the Battery Day since nobody can accurately predicting it.— 🔋Vincent 🔋 (@vincent13031925) September 18, 2020
This is a very important event for all LT Tesla investors & what I like to hear:
1. 🔋 production rate ⬆️
2.🔋 cost ⬇️
3. New 🔋 chemistry
4. New 🔋 model
Several analyst firms are anticipating high-profile announcements, so they are raising their price target. Wedbush Securities expects Tesla to come close to announcing a million-mile battery. According to them, the battery technology will be very advanced and will mark another milestone for the entire Tesla ecosystem.
Piper Sandler mentions Tesla Energy, is expected to eventually exceed $200 billion in revenue per year. The firm said that Tesla will control more than 1/3 of the stationary battery market and expects demand for these products to soar, especially in the late 2020s and 2030s.
Tesla expects that its non-automobile revenues will comprise 50% of the company's long-term income. In order to meet this objective, the company needs its own production of battery cells.
Thus, batteries are the foundation for Tesla's entire business, as well as for several other areas of focus that Musk is developing. What the company will showcase at Battery Day is sure to revolutionize several sectors and make Tesla an indispensable leader.
© 2020, Eva Fox. All rights reserved.Follow @EvaFoxU
About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.