> It announced it is confident that in the near future it will be able to deliver the same thing it's said it would deliver in the nearish future a decade ago

They also said that this one will be fully self-driving.

I'm not gonna hold my breath...

They're absolutely pushing the state of the art forward, kudos for that, but they're constantly overpromising and underdelivering.

With gas prices so low and likely to remain as such until the economy recovers, ICE cars are a better short term investment(on a personal level. I'm not counting externalities or AGW here).

There's something about Musk that rubs me the wrong way, but I do hope he succeeds in making electric vehicles the norm. That said, ICE cars won't die until we force them to die with carbon taxes and other disincentives.

Copy pasting previous comment since the number of people misrepresenting the ground breaking tech that was announced is to high to spend energy on:

1)56% reduction in cost (which blows way past the $100/kwh holy grail for EV to sub $40). This by itself is insane and most people in the industry thought it wont happen for at least another decade. This puts the last nail in the coffin for the future of ICE cars.

2) 54% increase in range. The new Model S will have minimum 520mi of range and much more actually when they start production. Range anxiety gone out the window.

3) New manufacturing tech along with vertical integration will allow Tesla to scale 55x their current rate of production and become the world's largest auto manufacturer by many multiples. Tesla will not only produce their own battery cells but they're even getting into mining!!

Along with many other things announced in a 3+ hour technical video: https://www.youtube.com/watch?v=l6T9xIeZTds

Currently EVs are < 1% of cars. What Tesla showed today was a path to increase that significantly with the cost per kWh reduced by 56% and 7x improvement in factory production footprint.

16% is just including the cell production process. Not the anode or cathode chemistry changes.

Who's paying you to downplay what was actually announced?

1)56% reduction in cost (which blows way past the $100/kwh holy grail for EV to sub $40). This by itself is insane and most people in the industry thought it wont happen for at least another decade. This puts the last nail in the coffin for the future of ICE cars.

2) 54% increase in range. The new Model S will have minimum 520mi of range and much more actually when they start production. Range anxiety gone out the window.

3) New manufacturing tech along with vertical integration will allow Tesla to scale 55x their current rate of production and become the world's largest auto manufacturer by many multiples. Tesla will not only produce their own battery cells but they're even getting into mining!!

Along with many other things announced in 3+ hour technical video. But yea 16% density improvement is the only takeaway from this...

Edit: I like how you're editing your original comment after I've already replied without any mention of it. Please practice honest forum etiquette.

That's just from the improvement of the cells themselves, they also talked about an additional 10% decrease in mass and a 14% increase in range due to the integration of the battery pack into the body of the car, which the new, larger cells will allow them to do. An overall improvement of 30% range with these changes ain't too shabby, and that's from incremental improvements to what they are already doing. Honestly everything they covered today seemed so straight forward and feasible that it just seemed kind of boring, but the changes combined are quite impressive. The important part of the presentation really, is the total overall cost reduction of the battery pack of 56%, that's what leads them to believe they can produce a $25,000 car.

When demand exceeds supply, it makes sense to prioritize higher margin cars first. They did release $35k model 3 but people were willing to pay more for a few extras.