Nirvana in this case would be $100 per kilowatt-hour battery production cost to compete with combustion engines on cost. The Tesla battery Gigafactory joint project with Panasonic is targeting a 30% cost reduction in battery production. Tesla CEO Elon Musk has often said that savings of 30 percent on today’s battery prices are possible with the gigafactory.
The Gigafactory is being designed to supply Tesla with batteries for their cars and reduce costs at the same time. The estimates of cost reduction is based on current technology and many analysts think that the Gigafactory could exceed expectations, especially with advancements in technology.
Stay tuned for further developments in Clean Energy cars from Tesla and Gigafactory. The future is bright!
Resource: Tesla Motors
Resource: Green Car Reports article