Tesla plans to introduce a new low-cost, long-life battery in the more popular, Model 3, in China later this year. This new battery is expected to bring the cost of the Model 3 in line with similar petrol models.
These new batteries are also designed to last significantly longer than the batteries used in the current Model 3's. Musk claims the batteries will last as long as 1.6M kilometers meaning the life expectancy of the vehicle will be significantly improved.
Whilst these new batteries are ear marked for use in China initially (and hopefully later this year), they will progressively be introduced to the Model 3 in other regions with North America being the obvious next in line.
It certainly is exciting times ahead if Tesla can deliver on its promises with this new battery. One of the biggest limiting factors for greater adoption of EV vehicles in Australia is that the initial purchase price are still quite high in price in Australia.