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Tesla battery supplier says million-mile unit ready for production

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Contemporary Amperex Technology Limited Chairman Zeng Yuqun said that the company is ready to build the million-mile battery for Tesla.

He claims the battery will last 16 years and has enough energy to run for 1.24 million miles.

How ready is CATL? Apparently, the company said it'll build them as soon as the firm receives an order for the million-mile battery. So much of this news has surrounded Tesla but the company hasn't made its own announcement. It could be this unit won't be tied to Tesla at all, and instead, the electric carmaker may have something more tailored to its own operations. At a minimum, we know Tesla worked with researchers in the past on this kind of technology.

Tesla did not immediately respond to Roadshow's request for comment. However, Yuqun mentioned in the interview he and Tesla CEO Elon Musk chat frequently. He also confirmed CATL and Tesla are interested in developing cobalt-free batteries. Such a unit would be far cheaper to produce and spare the mining of rare earth materials. Both Tesla and CATL signed an agreement for two years to plop its batteries in Chinese made Model 3 sedans. CATL also provides batteries for Volkswagen and Toyota.

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