Tesla CEO acknowledged the design and manufacturing process of the new cells, which he says will be half as expensive, is not complete

Elon Musk described a new generation of electric vehicle batteries that will be more powerful, longer lasting, and half as expensive as the company’s current cells at Tesla’s “Battery Day” on Tuesday.

“We do not have an affordable car. That’s something we will have in the future. But we’ve got to get the cost of batteries down,” Musk said.

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