Tesla plans four new batteries in 2026

Takeaway points:

• Tesla intends to create four new versions of its internal battery to power the Cybertruck, the upcoming Robotaxis and other electric cars.
• According to a report last year, the company also tried to scale up production of its dry-film 4680 cells, but struggled with battery production speeds.
• Meanwhile, on Thursday, the United States offered EVgo a conditional loan guarantee of up to $1.05 billion to support the nationwide expansion of public electric car charging infrastructure, part of which will be located in underserved metropolitan regions.

Tesla will produce new batteries in 2026

The Elon Musk-led company currently sources most of its electric vehicle batteries from other companies, including Panasonic Energy and LG Energy, but it is trying to increase production of its 4680 battery cells in the United States to cut costs and increase margins.

The report says development of the 4680 battery is facing difficulties as the company loses 70% to 80% of its cathodes during test production compared to conventional battery makers, which lose less than 2% of their components due to manufacturing defects.

Cathodes, a key part of the battery, help produce the energy that powers an electric vehicle.

The company has also tried to scale up production of its dry-film 4680 cells, but, as we reported last year, it has had issues with the speed at which it can produce batteries.

Tesla plans to introduce dry cathodes for Cybertruck batteries by the middle of next year, Information reported, adding that the company plans to produce 2,000 to 3,000 Cybertrucks per week using dry coating technology.

The report shows that Tesla plans to introduce four dry cathode versions of the 4680 by 2026, one of which, codenamed NC05, will power a robotaxi.

The electric vehicle maker is expected to unveil its long-awaited robotaxi product next week as it looks to focus on artificial intelligence-based autonomous technology amid slowing demand for battery-powered cars.

The United States is offering EVGo a $1.05 billion conditional loan for electric vehicle chargers

The United States on Thursday offered EVgo a conditional loan guarantee of up to $1.05 billion to expand public electric vehicle charging infrastructure across the country, some of which are located in marginalized urban communities.

If the loan guarantee is finalized, from the Department of Energy’s Loan Program Office (LPO), EVgo will support the deployment of approximately 7,500 public stations equipped with high-power chargers capable of powering two electric vehicles simultaneously at nearly 1,100 stations.

The financing should help EVgo, which has a high cost of capital, compete with Tesla’s charger network, said Jigar Shah, head of LPO.

“The key is to help the company achieve much higher customer service scores, which will mean more people will want to charge there, and that means they will be able to pay off our loan faster.” Shah said. EVgo, which is still unprofitable, currently has over 3,500 fast charging stations.

It was the first financial assistance for electric vehicle charging company LPO and comes from the office’s innovative Clean Energy Program, which has another $70 billion in loans.

The EVgo chargers, to be built over five years, will complement a federal program established in 2021 that aims to place chargers on highways every 50 miles, Shah said. This federal grant program has been criticized for slow progress.

More than 40% of EVgo’s 350 kW fast chargers, which are designed to charge all electric vehicles, are planned to be built in disadvantaged communities, where the company says they will be used by both ride-sharing service providers cars and by individual car owners.

“Ideal for people who don’t have access to a private driveway.” – said EVgo CEO Badar Khan. “A key aspect of our business is providing access to clean air through the electrification of transport for those who do not have a charger at home.”

Announcement “marks a significant milestone as the private sector rushes to build infrastructure to meet consumer demand.” said Ali Zaidi, White House national climate adviser.

“This partnership will help us continue to accelerate our expansion from coast to coast.”