Today we discuss Tesla (TSLA), a cutting-edge technology company, a carmaker, a solar tech company and battery developer.

On September 22, Elon Musk, co-founded and CEO of Tesla, and his team hosted a Battery Day event, announcing massive innovations coming to Electric Vehicles (EV) and beyond.

TSLA plans to cut battery costs by more than 50% as well as boost power per unit of weight. Cheaper, more energy-dense batteries can make battery-powered heavy-duty trucks more competitive with other alternative-fuel powertrains.

“Some of the eye popping battery innovations coming out of Tesla ...looking to reduce battery costs well below the $100 [per kilowatt-hour] threshold, this potentially changes the game with further price parity on the EV front and throws a wrench in the [return on investment] story around hydrogen fuel cell vehicles over the long term.”

In addition, California governor Newsom announced that he is seeking to phase out gasoline-powered vehicles by 2035. This will be a major boost to EV, electronic components and solar industry.

Watch this video to get the technical insights.

Good trading!


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