Tesla batteries are expensive.
Tesla has been advancing battery technology in order to lower the price of their goods,
as described in this article.
This year's Tesla battery day event focused on lithium iron and lithium iron phosphate (LFP) batteries,
with Elon Musk demonstrating improvements in cell design for both cost and energy density.
Musk stated that their innovations have already resulted in 54% lower costs and that they will continue to improve.
The introduction of new LFP batteries may also result in additional cost savings.
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