Highlights of article most relevant to Noram Ventures - :
- Rodney Hooper of RK Equity told INN that investors should be paying attention to the upcoming Battery Day due to the impact it could have on demand for raw materials, as well as on EV demand depending on what’s confirmed during the event.
- “If renewable energy is central to a low-carbon future, then baseload power is a key issue. EVs with million-mile batteries can solve that problem,” Hooper said.
Tesla’s battery cell production and manufacturing capacity:
- Last year, Tesla sold 367,500 electric vehicles globally, including 223,000 in the US. The company currently has the capacity installed to exceed 500,000 vehicle deliveries this year, despite recent production interruptions.
- As was recently announced, the US is getting another gigafactory, this time in Texas. In July, Musk confirmed that his company will be building its new Cybertruck and its heavy-duty semi truck, as well as the Model 3 and Model Y cars for Eastern North America. A first completion could happen by May 2021.
- By the summer of 2021, Tesla is also set to open its first manufacturing facility in Europe. The factory, which is being built just outside Berlin, Germany, could assemble as many as 500,000 cars a year, with Musk saying it Tesla will implement additional “original” engineering and design measures.
- “I think we will be building some batteries and cells and other things here. That will be good for stationary storage of wind and solar,” Musk added.
- “If Tesla is targeting 1,000 GWh of their own capacity by 2030, investors should be paying attention as to how it is ensuring it has sufficient raw materials to meet its goals, and then which companies can produce these materials in a sustainable way,” Hooper said.