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Five current and former Tesla employees say the company is prototyping its own "advanced lithium ion battery cells," CNBC reports.
Why it matters: Creating its own batteries could allow Tesla to "offer cheaper, higher-performance electric vehicles than it does today, without having to pay or share data and resources with outside vendors or partners," per CNBC. Tesla currently relies on Panasonic to develop its batteries.
Go deeper: Billion-dollar bets on electric vehicles await payoff