Tesla Motors Inc (NASDAQ: #TSLA) Battery Technology Has a Rival RSS Feed

Tesla Motors Inc (NASDAQ: TSLA) Battery Technology Has a Rival

Tesla Motors Inc (NASDAQ: TSLA) the famous electric car maker which recently expanded its operations into production of lithium-ion based batteries, has now competition in that field. Tesla’s lithium-ion based batteries were designed to power houses as well as larger commercial buildings, and to achieve these product efficiency and potential high demand the company invests billion of dollars in building the largest lithium-ion battery plant in the world, located in Nevada.

Today, a team of engineers from an energy storage startup UniEnergy Technologies (UET) announced that they have developed a similar battery to Tesla’s, but with significant advantages – it is cheaper to manufacture and lasts longer.

Read full story at Financial Buzz