Stocks turned negative Wednesday, erasing earlier gains and ending an advance that began on Tuesday.
For Tesla to reach the ambitious goal of 10 to 20 terawatt hours of battery production per year that the company has set, it will need to advance the battery and its production. Today, during Tesla's self-described Battery Day event, the company laid out a series of innovations that its CEO Elon Musk said will get it there. "We're starting to ramp up manufacturing of these cells at our pilot 10 gigawatt manufacturing facility just around the corner," said Drew Baglino, the SVP of powertrain and energy engineering at Tesla.
Tesla has fundamentally redesigned the way that its battery packs integrate into their vehicles, turning them into structural elements of the car, rather than just fuel sources on their own. At Tesla's Battery Day event on Tuesday, Elon Musk compared this to how commercial aircraft used to load fuel into tanks that were contained within the wings, but that were essentially bolted onto internal structure -- later on, they realized much greater efficiencies in how much fuel could be carried, as well as weight and parts usage, by making the wing bodies actual fuel tanks themselves. "All modern airplanes, the fuel tank, your wing is just a fuel tank and wing shaped," he said.