According to Reuters, Tesla might already be prepped to start putting less expensive, cobalt free, batteries in the Model 3 in China. According to the report, Tesla has already asked for permission from the Chinese Government to start manufacturing a Tesla Model 3 featuring a lithium iron phosphate batteries, I’m guessing starting in Tesla because of the relaxed manufacturing regulations.
Not only is this good for the environment as well as controversial techniques of mining cobalt in countries such as the Dominican Republic where the workers are heavily exploited, it is also good for price. It is likely that this will drop the overall prices of batteries by at least one fifth and that is based solely on the lack of cobalt, not taking into account other economic factors.
If this proves to be true, we could see Tesla Model 3 prices become incredibly competitive and the price of Electric Vehicles overall drop which would be great for all of us.