Tesla Motors Inc (TSLA): Elon Musk says Model S may get a larger battery pack next year

Posted Feb 14, 2014

Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk was chatting with a group of Tesla owners in Norway recently when he revealed that more-powerful batteries are coming soon for the Model S. Currently the most potent battery pack offered in the Model S is 85 kWh (265 miles of driving).

?There is the potential for bigger battery packs in the future, but it would probably be maybe next year or something like that. The main focus is . . . how do we reduce the cost per kWh of storage in the battery pack?? said Musk during the talk. This means that there is a chance of a larger battery pack, but it is not confirmed. ?Our goal is to drop the cost per kWh by 30 percent to 40 percent.?

This means that Tesla would have to build more production capacity in the form of a “gigafactory” that can build 30 gigawatt-hours annually. This is more than the entire world’s lithium-ion factory production in 2012.

Musk said that there are other enhancements coming to the Model S including a drop-in center console, comfortable front seats, and an ?Autobahn package,? which will have suspension changes for the vehicle to handle high-speed handling.

[Source: CarAndDriver.com]