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Tesla (TSLA) Produces 20M 4680 Battery Cells in Giga Texas
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Tesla (TSLA - Free Report) confirmed the 4680 battery cell production milestone. The automaker built its 20 millionth cell at Gigafactory Texas. In June, the EV pioneer announced the production of 10 millionth 4680 battery cells at Giga Texas. In just 16 weeks, the automaker doubled its cumulative battery cell total, bringing its average production to 625,000 cells per week.
Tesla revealed the 4680 battery cell at Battery Day in 2020. The cell was the company’s solution to extend a vehicle’s power, range and life. The automaker said that the new design can reduce its cost by more than 50%.
A few 4680 battery cells were integrated in Model Y. Per Electrek, these battery cells are believed to be critical for Tesla’s new vehicle program like Cybertruck, which is expected to enter the production and delivery stage by the end of the year.
Last year, Elon Musk, CEO of Tesla, said that 4680 batteries would play a crucial role in the company’s plan for 2023.
Tesla’s latest Model Y configuration equips a lithium ferrophosphate battery, which is suitable for standard-range vehicles because it holds less density.
The 4680 batteries are ideal for long-range vehicles and the ones that require more power, making it suitable for Cybertruck. The truck is expected to be utilized for commercial and construction purposes.
During the third quarter, Tesla produced and delivered 430,488 and 435,059 vehicles, respectively, down from 479,700 and 466,140 vehicles, respectively, in the second quarter. Planned downtimes for factory upgrade was quoted as the main reason behind the sequential decline in volume.
The Zacks Consensus Estimate for ADNT’s 2023 sales and earnings indicates year-over-year rises of 9.1% and 1,790.9%, respectively. The EPS estimate for 2023 has moved up by 15 cents in the past 60 days. The EPS estimate for 2024 has moved up by a cent in the past seven days.
The Zacks Consensus Estimate for ALSN’s 2023 sales and earnings indicates year-over-year rises of 9.3% and 26.4%, respectively. The EPS estimates for 2023 and 2024 have increased by 12 cents and 19 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for MGA’s 2023 sales and earnings implies year-over-year growth of 13% and 31.2%, respectively. The EPS estimate for 2023 has moved north by 8 cents in the past 60 days. The EPS estimate for 2024 has moved up by 14 cents in the past 90 days.
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Tesla (TSLA) Produces 20M 4680 Battery Cells in Giga Texas
Tesla (TSLA - Free Report) confirmed the 4680 battery cell production milestone. The automaker built its 20 millionth cell at Gigafactory Texas. In June, the EV pioneer announced the production of 10 millionth 4680 battery cells at Giga Texas. In just 16 weeks, the automaker doubled its cumulative battery cell total, bringing its average production to 625,000 cells per week.
Tesla revealed the 4680 battery cell at Battery Day in 2020. The cell was the company’s solution to extend a vehicle’s power, range and life. The automaker said that the new design can reduce its cost by more than 50%.
A few 4680 battery cells were integrated in Model Y. Per Electrek, these battery cells are believed to be critical for Tesla’s new vehicle program like Cybertruck, which is expected to enter the production and delivery stage by the end of the year.
Last year, Elon Musk, CEO of Tesla, said that 4680 batteries would play a crucial role in the company’s plan for 2023.
Tesla’s latest Model Y configuration equips a lithium ferrophosphate battery, which is suitable for standard-range vehicles because it holds less density.
The 4680 batteries are ideal for long-range vehicles and the ones that require more power, making it suitable for Cybertruck. The truck is expected to be utilized for commercial and construction purposes.
During the third quarter, Tesla produced and delivered 430,488 and 435,059 vehicles, respectively, down from 479,700 and 466,140 vehicles, respectively, in the second quarter. Planned downtimes for factory upgrade was quoted as the main reason behind the sequential decline in volume.
Zacks Rank & Key Picks
TSLA currently carries a Zacks Rank #3 (Hold).
Some top-ranked players in the auto space are Adient plc (ADNT - Free Report) , Allison Transmission Holdings, Inc. (ALSN - Free Report) and Magna International Inc. (MGA - Free Report) . While ADNT sports a Zacks Rank #1 (Strong Buy), ALSN and MGA, each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for ADNT’s 2023 sales and earnings indicates year-over-year rises of 9.1% and 1,790.9%, respectively. The EPS estimate for 2023 has moved up by 15 cents in the past 60 days. The EPS estimate for 2024 has moved up by a cent in the past seven days.
The Zacks Consensus Estimate for ALSN’s 2023 sales and earnings indicates year-over-year rises of 9.3% and 26.4%, respectively. The EPS estimates for 2023 and 2024 have increased by 12 cents and 19 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for MGA’s 2023 sales and earnings implies year-over-year growth of 13% and 31.2%, respectively. The EPS estimate for 2023 has moved north by 8 cents in the past 60 days. The EPS estimate for 2024 has moved up by 14 cents in the past 90 days.