Manganese producers set to strike gold after Tesla unveils shift to new generation of batteries

Manganese producers are set to strike the proverbial pot of gold after the world's biggest electric car maker, Tesla Inc (NASDAQ:TSLA) (FRA:TL0) announced a major shift in its battery strategy - the move to manufacture its own batteries incorporating manganese and nickel.

Tesla's aim to drive down the cost of its electric cars will see the company producing its own new generation of batteries that will be more powerful, longer-lasting and half as expensive than the company's current cells.*More power and greater range*

Tesla's new larger cylindrical cells will provide five times more energy, six times more power and far greater driving range, according to Tesla chief executive officer Elon Musk.

Full production is about three years away, Musk said at Tesla's Battery Day on Wednesday.