alexa certify

Musk Says Tesla is Open to Supply Batteries to Other Firms

Tesla chief executive officer Elon Musk says that the automaker is willing to supply batteries to other carmakers. Musk reportedly said that the technology company is open to licensing its own software and supply powertrains and even batteries.

In the past, the company had already supplied other companies such as Toyota and Mercedez under distinct partnership agreements.

According to most analysts, the California-based automobile maker is one of the top dogs in the battery industry. The company reportedly has an edge over its competitors and Elon Musk isn’t shy about it.

The firm has been praised by many of its super fans for the capabilities of its batteries and its tech. And Musk himself has been teasing a “battery day”.

Technology news reports say that Musk expressed his interest through his recent tweet. The Tesla boss said that the company is trying to accelerate sustainable energy and not “crush” its rivals.

It is still unclear what types of batteries it’s willing to supply. The company currently operates a joint venture with Panasonic Corporation for its batteries.

Aside from that, the carmaker sources batteries from a Chinese company named Contemporary Amperex Technology. It also gets supplies from another partner in Asia, South Korea’s LG Chem.

It was previously reported that, in the past, the company was looking to establish its own battery manufacturing facility. Sources say that Tesla plans to build it in Fremont, California under its “roadrunner” project.

As known by the community, batteries are the most expensive component of an electric automobile.

Full Steam Ahead

While most of the automakers around the world struggle amidst the pandemic, Elon Musk’s company is in full throttle mode. The company is aiming for bigger sales while most companies, not just car companies, lick their wounds.

Modern technology has allowed the company to thrive and its eccentric CEO knows how to play the game. Tesla has been a top contender in the stock market and its sales in China remain strong.

The company is now in full hiring mode for its Gigafactory in Shanghai, China. Reports say that it’s planning to bring designers at its studio and add 1,000 more factory workers.

The post from the company’s human resources division is the first time that the automaker is looking to hire designers in China. However, it does not state how many posts are open for this position.

Earlier this year, the firm said that it was planning to open a research center to make “Chinese-style” cars.

In addition to that, the automaker is hiring 600 more workers for its stamping, painting, assembly, and bodywork workshops.

Experts say that Tesla found a new strong market in China and its seizing every opportunity there. The automaker’s sales were initially affected but have immediately recovered in the mainland.

Comments Rating 0 (0 reviews)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!

You might also like

Leave a Reply


Subscribe to Our Newsletters

Have the best of Finance Brokerage News delivered directly to your mailbox. Subscribe now to receive the latest market news.