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Tesla Is Secretly Building Its Own Battery Cells, but Is Musk Overreaching?

• https://www.ccn.com by Harsh Chauhan

There is no doubt that Elon Musk is a visionary man with ambitions that may or may not materialize in the long run. The Tesla CEO has his hands full with ventures in space, on Earth, and even below the ground. Now it looks like he is on his way to add another feather to his cap: batteries.

CNBC reports that Tesla is secretly developing its own batteries in a bid to reduce its reliance on Panasonic. According to nearly half-a-dozen Tesla employees (both current and former) who were interviewed by CNBC, the electric vehicle maker reportedly runs a secret lab close to its Fremont, Calif. plant where it conducts battery-related research.

Elon Musk thinks Tesla needs battery tech

Elon Musk is upbeat about Tesla's prospects. He has promised that the company could deliver a record Q2 on "every level" and also boasts that 90% of orders are coming from new customers.

This may have given Musk the encouragement to move forward with his own battery manufacturing facility. After all, the Tesla CEO pointed out at the June shareholder meeting that it has faced a shortage of batteries.


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