$33,500 per ton

The cost of cobalt, one of the most expensive metals used in electric vehicle batteries. Tesla aims to reduce its use of cobalt down to “almost nothing” to reduce vehicle prices, and the company plans to do so by using lithium iron phosphate (LFP) batteries for its cars produced in the Shanghai gigafactory. Tesla has not said to what extent these LFP batteries would be used and has only said that they are cheaper than the existing batteries by a “double-digit percent.” (Reuters — February 17, 2020)