Elon Musk says Tesla caused two-thirds of his personal and professional pain

4 days ago
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Elon Musk, laminitis of SpaceX and main enforcement serviceman of Tesla Inc., arrives astatine the Axel Springer Award ceremonial successful Berlin, Germany, connected Tuesday, Dec. 1, 2020.

Liesa Johannssen-Koppitz | Bloomberg | Getty Images

Tesla CEO Elon Musk said Wednesday that his electrical conveyance and star concern could assistance bitcoin miners power to renewable energy, but is presently constricted by choky proviso of artillery cells.

He besides acknowledged that Tesla is inactive not manufacturing its custom-designed 4680 cells for commercialized usage successful electrical cars oregon vigor retention systems yet.

The comments came during an quality astatine The B Word Conference, which was focused connected bitcoin and different cryptocurrencies. During a panel, Square Crypto pb Steve Lee asked Musk what the energy-intensive bitcoin manufacture tin bash "to accelerate the modulation to renewable energy" and "could Tesla Energy play a role?"

Musk replied, "Well, I deliberation Tesla tin play a role."

Then, the 50-year-old CEO broke into a reflective moment, implying that Tesla's full crushed for beingness was to modulation the satellite to cleanable energy.

"I would accidental I've had immoderate beauteous pugnacious beingness experiences and Tesla's astir apt liable for two-thirds of each idiosyncratic and nonrecreational symptom combined to springiness you a consciousness of position there."

Tesla's vigor business

Tesla has been selling commercialized and residential star installations since acquiring SolarCity successful 2016 for astir $2.6 billion, a woody that landed Musk successful a Delaware court this month.

But earlier it got into the star business, Tesla created and began selling vigor retention products successful 2015, including a backup artillery for homes called the Powerwall, and larger batteries that tin store star oregon upwind vigor generated intermittently truthful it is disposable for usage whenever utilities request it.

Tesla has installed a number of these utility-scale vigor retention systems, Musk reminded his assemblage connected Wednesday, that person helped utilities with "load-leveling the grid," including successful South Australia and elsewhere. But helium noted that artillery accumulation was presently constraining produciton.

"In information the limiting origin for america close present is compartment production. So we request to some internally get our Tesla internal artillery cells produced arsenic good arsenic summation proviso from suppliers."

Musk besides repeated that adjacent erstwhile Tesla tin marque its ain artillery cells, it volition inactive trust connected different artillery compartment makers. Its existent compartment suppliers see Panasonic, LG and CATL.

"Generally erstwhile I speech to our suppliers and they accidental 'how galore cells would you like?' I accidental 'how galore cells tin you make?' you cognize 'cause sometimes they're concerned, is Tesla gonna vie with them connected cells? I'm similar nary no, if you privation to marque the cells beryllium our guest. It's conscionable that we request a brainsick fig of batteries."

In a Twitter exchange with fans aft the bitcoin conference, Musk wrote that Tesla is inactive "not rather done" getting to "volume production" of its custom-designed 4680 artillery cells.

He besides acknowledged that Tesla sold Maxwell Technologies' ultra-capacitor concern and different assets to a San Diego-based startup called UCap Power, which is led by Gordon Schenk, preivously Tesla's VP of income for its Maxwell division.

Tesla initially acquired Maxwell successful 2019 successful a woody valued implicit $200 million. The nonstop presumption of the merchantability to UCap Power Inc. were not disclosed, but whitethorn beryllium discussed erstwhile Tesla holds its second-quarter net telephone connected Monday, July 26.

Finally, astatine The B Word conference, Musk said vigor retention systems, combined with star and upwind weren't the lone ways to modulation bitcoin to cleaner energy. He endorsed existing hydropower, geothermal and atomic vigor to trim the biology interaction of bitcoin mining.

"My anticipation is not similar that the vigor accumulation indispensable beryllium axenic arsenic the driven snow, but it besides cannot beryllium utilizing the world's dirtiest ember which it was for a infinitesimal there. So. You know, that's conscionable hard for Tesla to enactment successful that situation. I bash deliberation semipermanent renewable vigor volition really beryllium the cheapest signifier of energy, it conscionable doesn't hap overnight."