Tesla’s shift away from cobalt could reduce the price of an electric vehicle. “The company is placing a huge bet on rechargeable battery technology that doesn’t use cobalt,” said Forbes. “This is one of the main elements making lithium ion batteries so expensive.” A few months ago, Tesla revealed it was working with CATL on lithium iron phosphate (LFP) batteries, which are cobalt-free, and which could help pave the way for more affordable EVs. (Source: Forbes) Read the original article…
Todd Phillips is the editorial director of Universus Media Group Inc. and the editor of Canadian auto dealer magazine. Todd can be reached at tphillips@universusmedia.com.
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