Compared with the usual 100,000 to 200,000 miles in a new car’s useful life, Tesla cars are built to withstand one million miles of driving. Trouble is, the electric car batteries are currently only designed for 300,000 to 500,000 miles. Now Tesla is testing new battery technology that would take battery life to a full one million miles and last two decades in grid energy storage.
Who would drive the same car for a million miles? The expectation is that, in the near future, the cars will typically be used as self-driving taxis, in near-constant use over a 10-year lifespan. The upshot is that the vehicle cost per mile—and therefore the cost to the end consumer who wants to be ferried around on demand—is going to go down dramatically in the fairly near future.
Please Note: This article is used with permission from a newsletter to which KFG subscribes. It is for our clients only and may not be republished.