Tesla’s Battery Day outlined a path for the electric car maker to reduce its battery costs by as much as 56% over the next few years. Granted, achieving this milestone will likely take some time as per the company’s executives during the event, but if Tesla were to accomplish its targets, the electric car maker could end up achieving impressive gross margins, rivaling even industry leaders like Apple.
Data research and analytics firm Trefis recently shared a post about the electric car maker and how its battery technology could enable the company to widen its lead over its competitors in the automotive sector. As noted by the firm, Tesla’s 56% reduction in battery costs could boost the company’s Automotive Gross Margins by 800 basis points.
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