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Reuters reveals Tesla's secret batteries aim to rework the math for electric cars and the grid

Reuters reveals Tesla's secret batteries aim to rework the math for electric cars and the grid

On Thursday, Reuters exclusively reported that electric car maker Tesla Inc plans to introduce a new low-cost, long-life battery in its Model 3 sedan in China later this year or early next, which it expects will bring the cost of electric vehicles in line with gasoline models and allow EV batteries to have second and third lives in the electric power grid. With a global fleet of more than 1 million electric vehicles that are capable of connecting to and sharing power with the grid, Tesla’s goal is to achieve the status of a power company, competing with such traditional energy providers as Pacific Gas & Electric and Tokyo Electric Power.