Tesla China Announces Battery Design Challenge For Highly-Anticipated Cyberquad EV: What You Should Know

Tesla, Inc. TSLA is providing renewable energy and tech enthusiasts in China an opportunity tor design batteries for a vehicle it announced way back in 2019 and is yet to see the light of the day.

What Happened: Tesla China has called upon contestants to participate in a battery design challenge to come up with a battery that can be used in its Cyberquad, CnEVPost reported, citing a poster shared by the EV giant's China unit.

Cyberquad is a vehicle Tesla announced in November 2019, along with its Cybertruck. It is an electric quad bike all-terrain vehicle (ATV). CEO Elon Musk reportedly said at Tesla's 2020 Battey Day event that the ATV will be made available as an accessory for the Cybertruck in late 2021.

Although the company is yet to share meaningful details on the ATV — during the cyber week in December 2021, it unveiled a Cyberquad for Kids mini-ATV designed for children. At the Tesla Shop, the price of the ATV is quoted as $1,900 but it is currently out of stock.

Related Link: Tesla's Cybertruck-Inspired $1,900 Quadbike For Kids Sold Out Within Hours Of Restocking

Big Prize Money Awaits Winners: The battery design challenge competition stretches for three months. Following a call for entries from April 25 to May 18, the company plans to conduct the preliminary round in Beijing between May 19 and 20. The subsequent rounds will be held in Yibin, Sichuan.

Contestants are required to design using the 2170 cells as a battery material.

Tesla China has promised cash prizes of RMB 200,000 ($30,410), part of it coming from the events team and the remainder from the Yibin Municipal government. Those securing second and third places will get 100,000 yuan and 50,000 yuan, respectively.

In premarket trading on Monday, Tesla shares were down 3.93% at $965.54, according to Benzinga Pro data.

Related Link: Why This Analyst Thinks Tesla's Disruptive Potential Can Put These Companies Out Of Business

Photo: Courtesy of Kruzat via Wikimedia