News Snapshot:
Tesla reported record revenue for the fifth consecutive quarter on Wednesday despite the pandemic and supply-chain crisis, but still faces future worries with supplies—including batteries used in its electric vehicles. The world’s most valuable automaker headed by billionaire Elon Musk wants to move to less expensive batteries, namely those that are iron-based. The problem has been until now that 95% of those are lithium iron phosphate (LFP) batteries are produced in China thanks to a series of patents held there. Those patents are expiring soon and Tesla plans to adopt LFP batteries for standard-range vehicles and move battery production closer...
