With first principles, you say, “What are the material constituents of the batteries? What is the stock market value of the material constituents?” . . . It’s got cobalt, nickel, aluminum, carbon, and some polymers for separation, and a seal can. Break that down on a material basis and say, “If we bought that on the London Metal Exchange, what would each of those things cost?” . . . It’s like $80 per kilowatt-hour. So clearly you just need to think of clever ways to take those materials and combine them into the shape of a battery cell and you can have batteries that are much, much cheaper
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