>> I thought Tesla made its own batteries? << Tesla doesn't make their own batteries -- the company instead sources them from Panasonic (NCA), CATL (LFP), LG

>> I thought Tesla made its own batteries? << Tesla doesn't make their own batteries -- the company instead sources them from Panasonic (NCA), CATL (LFP), LG (NCM), and BYD (LFP). >> So how does it benefit from some other company making cheap batteries? << Tesla doesn't really directly compete in the battery market despite all the hype about Tesla revolutionazing batteries, and is happy to buy from whoever is wiliing to offer the best price. Tesla has used Panasonic's NCA since 2010's because of their high energy density and low $$/KWh; then came the Chinese LFP around 2020. The Chinese battery makers have enormous price competitive advantage b/c they dominate the raw material supply-chain (ie, mines, refineries). LFP's are however mostly limited to Tesla's base/standard range trims due to their low energy density and weight.