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Berkshire’s Abel Says Musk’s Battery Needs Cost Breakthrough

Greg Abel, the chief executive officer of the energy unit at Warren Buffett’s Berkshire Hathaway Inc., said the batteries that Elon Musk is developing for utilities and homes need to be cheaper before they change how people use electricity.

It’s “not game-changing, and it’s because of the cost structure,” Abel said Wednesday at an event in Calgary. “Is there an opportunity to now implement that into our systems, into our transmission and distribution systems? Absolutely. And is it completely cost-effective, no. It’s got to get cheaper.”