Just the batteries... Sounds like the RXBAR of electric vehicles. Tesla stock surged 11% yesterday partly because an analyst pre-praised its new battery tech (which, BTW, hasn't even been revealed yet):
Tesla's Hinge interests... Obsessed with batteries. After all, batteries put the "electric" in Electric Vehicle. Tesla currently produces batteries with Panasonic at its Gigafactory in Nevada. It also sources them from companies in China and South Korea. It wants to do more:
Tesla has a lot of EV competition... Bigger players like VW, Ford and GM are ramping up EV production (at lower price points). And governments are tossing around EV subsidies to encourage more environmental cars — Germany recently offered $7K off EVs priced under $45K (not helping Tesla). On the luxe side, Lucid just teased an EV sedan with a record single-charge range. It's highly unlikely that Tesla will ever get a majority of the EV market, but batteries have a higher barrier to entry. Tesla might have an edge there.