One of the main challenges related to electric vehicles is their cost, which to a large degree is determined by the cost of the batteries. Currently the cost of the batteries is falling due to the technological development and the increasing deployment of the electric vehicles. Tesla Motors will influence significantly the process of lowering the cost of the batteries and increase its speed.
Tesla Motors plans to invest in a large-scale factory in order to manufacture cheaper batteries for the mass electric car market in the following three years. The company believes that the factory will increase the speed of development of the batteries and cut their costs faster. The factory will produce finished batteries from metal and not from components.
In the future the Tesla vehicles can be used for purposes beside transportation. Representatives of different governments and entrepreneurs have predicted many years ago that the owners of electric vehicles will also be able to use them as power sources for their homes or sell electricity. In this way not only the transport industry will benefit but also other industries. Until then the opportunities for the electric vehicles will be more, since the creation of this factory and others will allow the consumers to purchase an electric vehicles without facing such a high price.