Elon Musks Tesla could soon be overtaken in the global arms race for batteries, strategist says

[jpak]

https://www.cnbc.com/2017/08/07/elon-musks-tesla-could-soon-be-overtaken-in-batteries-arms-race.html

Elon Musk's car company Tesla appears to be leading the "arms race" for lithium-ion batteries — for now.

Musk recently announced plans to build the world's biggest lithium-ion battery storage project in South Australia. Meanwhile, construction of the company's highly anticipated 35-watt-hour "Gigafactory 1" lithium-ion battery factory is still underway.

"There's a kind of arms race on batteries around the world. We know that Elon Musk with Tesla has got this Gigafactory. The Chinese are racing to overtake him; they'll have three times the capacity. And then in Germany, we've just heard announcement of a new plan for a $1 billion factory on batteries," Giles Keating, chairman at investment consultancy Werthstein Institute, told CNBC Monday.

A report published by Bloomberg Intelligence in June said factories planned by Chinese companies could have the capacity to produce more than 120 gigawatts an hour by 2021 – enough to supply 1.5 million Tesla Model S vehicles.

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[Adrahil]

1. If it brings the prices of Lithium batteries down, that's good.

One thing holding back electric vehicles right now is the cost of the high-quality lithium batteries.

[LittleBlue]

2. The Chinese will be dumping again

Just like they dump solar panels and steel. New industry, same shit from the Chinese.

[GeorgeGist]

3. Global arms race?

Fuck these clowns.

[TheBlackAdder]

4. I thought Musk wanted competition and its eventual drive to lower prices, he even gave patents out.