According to Martin Viecha, vice president of investor relations at Tesla, the electric vehicle (EV) automaker headed by Elon Musk has access to all the batteries it needs for the first time. This is big news for Tesla that has had its production constrained because of issues with supplies, one of which has been battery cells.
The company was the first company to use lithium-ion cells in its vehicles and other electric vehicle makers followed suit. This demand, and with limited numbers, has resulted in a limited supply to the overall electric car industry.
Earlier this week at the Goldman Sachs tech conference in San Francisco, Martin Viecha announced Tesla currently has all the supply of battery cells it needs. Tesla is currently the world leader in electric vehicle sales and this will help the company continue its domination while other brands struggle with battery supplies.
To help with this Tesla will add to the supply with the production of its own 4680 battery cell by the end of the year at Gigafactory located in Texas. Viecha did warned that the battery supply chain will need to keep growing to support the electric vehicle industry.
The US electric vehicle company is aiming to contribute with deeper investments in the supply chain. This include agreements with mining companies for the extraction of critical resources, including lithium, nickel and manganese, which are used in the construction of electric car batteries.
This is great news for Tesla and builds up on the news that the company’s Model Y has proved so popular it looks set to take on the rest of the auto world. Elon Musk, Tesla CEO, has claimed that in terms of revenue the Model Y will be the world’s best-selling vehicle this year.
He also believes that in terms of sales he believes Model Y will become the best selling car in the world by 2023. With this news about a good supply of batteries these claims could become a reality.