Tesla on Tuesday unveiled new battery cells that will add energy, range and power to the company’s electric vehicles.

CEO Elon Musk said during Tesla’s annual shareholders meeting and battery day event in Fremont, California, the new battery will also help reduce production costs and allow the company to sell electric vehicles for around $25,000, the same price range as gasoline-powered cars…

Tesla’s new battery cell, the 4680, will offer six times the power of Tesla’s previous cells and five times the energy capacity, said Drew Baglino, Tesla’s senior vice president of powertrain and energy engineering.
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