https://techcrunch.com/2021/10/20/tesla-earnings-iron-batteries-evs-globally/

Tesla said Wednesday it will use iron-based batteries for its standard Model 3 and Model Y models across global markets. The update, provided in the company’s third-quarter earnings report, confirmed hints that Tesla CEO Elon Musk has been dropping for months about the cheaper battery chemistry’s growing role in the company’s product line-up.

Lithium-iron-phosphate (LFP) batteries use an older, cheaper battery chemistry and are popular in China. Outside of China, EV batteries are predominately nickel-based — either nickel-manganese-cobalt or nickel-cobalt-aluminum. But beyond cost savings, LFP battery cells are attractive because they are not dependent on ultra-scarce raw materials like cobalt and nickel. Notably, Tesla CFO Zach Kirkhorn confirmed during an investor call Wednesday that the company has seen pricing impacts to nickel and aluminum.