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How much does Tesla pay for electric car batteries?
I was surprised recently to discover that even though their cars are assembled domestically, Tesla doesn’t manufacture their own electric car battery cells. How much does Tesla pay for electric car batteries?
Allison Stone · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
There has never been a more exciting time to buy an
electric car
, and Tesla
continues to be a real leader in the industry. Tesla purchases its battery cells from three suppliers—Panasonic, LG Chem and CATL—and pays an average of $142 per kilowatt hour.While Tesla does have to buy their batteries from other sources, they have an advantage over competitors by paying less for battery cells overall and having the lowest cost battery packs in the industry.
Comparatively, GM pays an average of $169 per kilowatt hour while the industry standard is about $185 per kilowatt hour.
If you’re thinking of buying a new electric car like a Tesla, you’re going to need a good
car insurance
plan. Find out if you’re getting the best deal on yours with the Jerry
app. A licensed broker, Jerry does all the hard work of finding cheap quotes from the top name-brand insurance companies and buying new car insurance.
MORE: How eco-friendly are electric vehicles?
View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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