May 01 2021

Tesla Plans to Add EV Component Recycling Facility to its Shanghai Plant

 

Electric car maker Tesla plans to build a facility to recycle battery cells and other components of electric vehicles such as electric motors at its Shanghai plant. The purpose of recycling EV batteries is to reduce the cost of the battery, which can lead to an EV that is less expensive to manufacture. Ten years ago, the cost of producing EV batteries was around $ 1,100 / kWh.  Last year, that figure fell to $ 156 / kWh. Despite the significant drop, it's still considered too high to make the EV really affordable for most people. The price of $ 100 / kWh is widely viewed by the auto industry as when an electric vehicle will cost roughly the same as a vehicle with a similar internal combustion engine.