Tesla is changing the type of battery cells it uses in all of its standard-range cars. MikeWayland reports.
have expressed interest in the battery chemistry for lower-priced models, according to Abuelsamid. He said it's also particularly appealing for commercial vehicles like delivery vans that don't need multi-hundred mile range.
Snow Bull Capital CEO Taylor Ogan, a long-time Tesla bull, told CNBC, "LFP batteries are cheaper and safer. With this chemistry, you can charge your vehicle's battery up to 100% and not worry as much about degradation long-term. The other thing is these batteries are really easy to recycle. And sourcing raw materials for these is easier to do, ethically. That's why iron-based batteries are really the battery of China already, and they're all you need for standard-range cars.
The two top producers of these types of battery cells are CATL and BYD. Tesla is already procuring batteries from CATL the companies have previously disclosed. Tesla did not provide additional details about the decision other than the investor deck saying it is "shifting to Lithium Iron Phosphate battery chemistry globally."
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