Tesla’s readying a ‘million mile’ battery that could greatly lower the cost of EVs

Photo by Sean O’Kane/The Verge

Tesla is getting ready to introduce a long rumored lower-cost, longer-lasting battery for its electric vehicles in China sometime later this year or early next year, according to a new report from Reuters. The battery — which has been colloquially called a “million mile” battery in reference to how long it can last in a car before breaking down — is being co-developed with Chinese battery giant Contemporary Amperex Technology Co. Ltd (CATL) and was designed in part by battery experts recruited by Tesla CEO Elon Musk.

Tesla is already the industry leader when it comes to squeezing range out of lithium-ion batteries in electric cars, and it’s expected to reveal more about the new technology at an upcoming “Battery Day” for investors. Musk…

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