Equities

Reuters exclusively reports Tesla in talks to use CATL’s cobalt-free batteries in China-made cars

Reuters exclusively reports Tesla in talks to use CATL’s cobalt-free batteries in China-made cars

Reuters reported exclusively that Tesla is in advanced stages of talks to use batteries from CATL that contain no cobalt – one of the most expensive metals in electric vehicle (EV) batteries – in cars made at its China plant. Adoption would mark the first time for the U.S. automaker to include so-called lithium iron phosphate (LFP) batteries in its line-up, as it seeks to lower production costs amid faltering overall EV sales in China.