, Columnist
Tesla Made a Smart Bet in China. It’s Paying Off
Elon Musk’s strategy of using a less expensive, more practical battery is now being rolled out globally. Getting more cars on the road faster ultimately will win the EV race.
A visionary.
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Tesla Inc. seems to have gotten it right. The usually fantastical Elon Musk is set to give the electric vehicle market and its various players a reality check.
At its third quarter earnings call, Tesla said it’s switching to a less expensive type of battery – the central part of the vehicle – for the company’s standard-range cars globally. Tesla already had been using these in some of its cars in China, where sales have been soaring primarily because prices were kept down. That was a shrewd, prescient and realistic move.