Elon Musk Takes to Clubhouse App to Call for More Battery Cells

The Tesla CEO said he wants suppliers to increase production Reiterates need for cells to meet 20-million-a-year car goal

Tesla Notches First Full-Year Profit, Aided By $270 Million Fourth-Quarter Net Income

Speaking on invite-only social networking app Clubhouse, Tesla Inc. Chief Executive Officer Elon Musk stepped briefly away from debating the existence of aliens and the merits of wiring a monkey’s brain so that it can play video games to stress that Tesla’s battery suppliers need to increase their production of battery cells.

“It’s important to emphasize to our suppliers, we’re not trying to put them out of business, we want them to increase their rate,” Musk said Monday.

Tesla suppliers Panasonic Corp.Contemporary Amperex Technology Co. Ltd. and LG Chem Ltd. have been under growing pressure to scale up their operations with Tesla increasing its purchase of battery cells and announcing newly ambitious plans for car production.

Tensions came to a head in September when Musk implied in a series of tweets that Tesla will begin producing its own battery cells, even as it ramps up buying from outside suppliers. The following day, the shares of Japan, South Korea and China-based Tesla battery suppliers’ each slid more than 4%.

Tesla’s goal is to produce 20 million electric vehicles a year — 40 times the almost 500,000 vehicles the company delivered in 2020. Achieving the goal is significant because that will replace about 1% of the 2 billion cars projected to be on roads by 2030, thereby “moving the needle” in the company’s fundamental goal of accelerating the advent of sustainable energy, Musk said on Monday.

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Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.