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Tesla looks to make Models 3s in China with cobalt-free batteries

  • Tesla (NASDAQ:TSLA) is prepping to start selling some Model 3 vehicles made out of Shanghai in China equipped with cobalt-free lithium iron phosphate batteries, sources tip Reuters.
  • The switch to LFP batteries for the Chinese-made Model 3s from using nickel-manganese-cobalt batteries is expected to save costs.
  • Tesla is expected to make an announcement on the change as early as tomorrow.
  • The price of cobalt (LCO1:COM) has gone down over the last few years, but is still a constraint on trying to push past the $100 per kWh goal. Glencore (OTCPK:GLCNF) is a supplier to Tesla of cobalt.

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