What Does Elon Musk's New Tesla Battery Technology Mean for the Future?

Elon Musk posted this announcement on Twitter. After the general meeting. Elon Musk held the Tesla Battery day event. During this live streaming event, Musk announced big plans. The company will begin manufacturing new battery technologies that he claims won't just change the future of Tesla cars but sustainable energy in general.

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These goals of improving energy efficiency through better battery technology are likely to weigh heavily on the industry. Musk also sets a tight deadline by which this new technology will begin production in the next year or two. The future of the battery is coming and Tesla wants to be at the forefront of this race to fully electrify global transportation.

Not just cars

This new battery technology is being introduced and, in theory, will become an integral part of the grid we are currently interacting with in terms of energy consumption. By moving to a battery that uses more efficient technology to power the electronics, Elon Musk plans that the new Tesla battery technology will effectively take over the grid. Of course, he expects stocks to continue their uptrend as Tesla electric semi-fleets, solar roof technology, and a massive push to create more sustainable energy are needed more than ever.

Teslas charges in a parking garage | Smith Collection / Gado / Getty Images

The naysayers speak, however. Below is a clip where analyst Pierre Ferragu points out that the timeframe for these goals may be a bit ambitious. Nevertheless, we continue to watch how Tesla is successful. Questions remain. For example, how will Elon Musk's prediction play out for many successful years?

A historic event for 2020

Due to restrictions of the coronavirus (Covid-19), the event was anything but ordinary. Not to say that any past Tesla meeting or conversation was ever normal. We all remember the broken Cybertruck window, for example.

That is, today Shareholders' meeting and battery day will go down in history for a number of reasons. The content of the meeting is just one of them. The entire audience consisted of parked people Tesla models. The audio poured into their clean bubbles and instead of clapping, we heard a chorus of horns and beeps at the particularly exciting tidbits shared by the Tesla reps.

The Tesla factory in Shanghai

As Musk explained in today's event, it is important to have factories closer to where the cars are being shipped. The Tesla plant in Shanghai isn't just important because it brings manufacturing closer to its destination. It is also the first US auto factory in China to be 100% owned by the respective auto company.

Aerial view of Tesla Super Factory | Costfoto / Barcroft Media via Getty Images

Musk told the live audience at the parked Teslas and the streaming viewers that the Shanghai factory rose in record time. Also that Tesla owns 100% of the factory. He said we should see similar successes for the new Texas facility. More factories will also be built to manufacture the new batteries and their components.

New Tesla battery technology

Overall, today's day wasn't all that different from other Tesla meetings. There was talk of money and finance. There was talk of the future.

Additionally, there has been a lot of talk about electric cars and how Tesla will come out and somehow make the whole world a better place. But even as with past announcements, we'll have to wait and see how Musk's ambitious plans play out.