Tesla's CEO is reportedly unhappy with its current Li-Ion battery technology. He announced plans to develop a battery with almost double the current capacity. A Chinese media report claims that these batteries use graphene.
This makes sense as we've seen graphene-based battery prototypes achieving over four times the capacity of commercial batteries, and it seems that the technology is ready for commercialization:
http://www.graphene-info.com/tesla-developing-graphene-enhanced-li-ion-battery
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He is very smart guy.