Tesla's chief executive, Elon Musk, announced it would invest in a $4bn-$5bn "gigafactory" doubling the world's production of lithium-ion batteries. These power your mobile phone, but also Tesla's high-end luxury electric cars. The objective is to cut battery prices by 30% in three years, and to halve them by 2020.
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Cheap batteries will revolutionise the renewable energy market
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