Ceo Elon Musk made some big announcements at Tesla’s battery day event. The company will make a $ 25,000 car.

Musk and other presenters addressed Tesla shareholders in parked cars, who honked their horns to indicate their approval of the speakers’ remarks.

Here are the main takeaways from Tesla’s 2020 battery day. The main takeaway is from the end of the year.

The new batteries will be produced in-house, which Tesla is calling 4860 cells. It’s expected to lower Tesla’s cost per kilowatt hour, a key metric used to measure electric vehicles’ battery packs.

The pace of battery production at Panasonic had slowed production of both the model 3 and the model Y. In 2018 a shortage of those cells added to production delays.

The price is listed on Tesla’s website at $ 139,990. It will have a range between charges of 520 miles, get from 0-60 mph in under two seconds, and a top speed of 200 mph.

Tesla will build a new cathode plant for its batteries in North America. It’s also making improvements to its process that will make cathodes 76 percent cheaper, and produce zero wastewater. The company also plans to diversify the cathodes it uses, because of low nickel supplies.

In July Tesla announced its next factory would be in Austin, Texas that he would’strongly consider’ Tulsa, Oklahoma for future projects.

Tesla plans to eliminate the use of cobalt in its cathodes. Cobalt is often mined under conditions that violate human rights. Musk has said he wanted to eliminate it entirely in the past.

Musk did n’t offer a timeline for when the company will stop using cobalt. The company said it will make its batteries significantly cheaper.

‘it’s absolutely critical that we make cars that people can actually afford,’ he said.’affordability is key to how we scale’.

Tesla plans to reduce the cost of its battery cells and packs, with an end goal of building a $ 25,000 electric car. Tesla said the cell should allow Tesla to’halve’ the price per kilowatt-hour.