EV maker fails to impress at Battery Day event
Tesla, the world’s leading electric vehicle (EV) maker, failed to impress investors during the Battery Day event at its U.S. factory on September 22, according to analysts.
Elon Musk, the charismatic CEO of the Palo Alto-based company, said that it plans to roll out its own 4680 battery cells that will improve its products’ range and power.
He said that the cheap in-house batteries will cut down on the price of Tesla models closer to gasoline-powered vehicles _ in the neighborhood of $25,000.
“Tesla did not announce anything, which will nerve our battery makers like LG Chem, Samsung SDI, and SK Innovation,” said a Seoul analyst who asked not to be named.
“Despite so much hype, there were no big news. As far as batteries are concerned, this year’s Battery Day reminded me of the Korean proverb, ‘There’s nothing to feast at parties that are rumored to be the best.’”
Prof. Kim Pil-soo at Daelim University concurred.
“This year’s Battery Day appears to be more about autonomous cars than any technology breakthroughs in the battery,” Kim said.
Tesla said that the company will come up with fully autonomous vehicles in the not-so-distant future.
LG Chem is the world’s largest manufacturer of rechargeable batteries. Its crosstown rivals of SK Innovation and Samsung SDI are also global contenders, which compete with Japan’s Panasonic and China’s CATL.