Why Tesla And Other EV Makers Are Betting Big On Gigacasting

Automakers are rushing to produce cheaper EVs and profitably. While the costs and challenges of improving batteries often hog the spotlight, automakers are also investing billions into new manufacturing methods that can change the way cars are made. One such method is gigacasting or megacasting - using high pressure molds to form molten aluminum into large parts. Electric car maker Tesla is credited with pioneering the method, but several rivals are making investments. CNBC spoke with experts including Volvo Cars' Chief Product and Strategy Officer, Erik Severinson, about the Swedish car maker’s plans in this area. Chapters: 00:00 - 01:41 Title card - Why Tesla and other EV makers are betting big on gigacasting 01:49 Chapter 1 - A revolutionary process 05:26 Chapter 2 - The potential 08:41 Chapter 3 - Future outlook Producer: Robert Ferris Editor: Evan Lee Miller Animation: Jason Reginato Christina Locopo Senior Managing Producer: Tala Hadavi Additional footage: BMW, Getty Images, Hyundai, Idra Group, Kia, Mercedes-Benz, Nissan, Rivian, Tesla, Toyota Motor Corporation, Volvo, Volkswagen » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to stop worrying about money? Sign up for CNBC’s new online course Achieve Financial Wellness: Be Happier, Wealthier & More Financially Secure. We’ll teach you the psychology of money, how to manage your stress and create healthy habits, and simple ways to boost your savings, get out of debt and invest for the future. Start today and use code EARLYBIRD for an introductory discount of 30% off through Sept. 2, 2024: https://cnb.cx/3WiasGB Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC Why Tesla And Other EV Makers Are Betting Big On Gigacasting